Clinton balanced the budget. There was a surplus. Go read Articles from the 90s there was fear that we would pay down the debt too fast and it would harm the economy.

Obama was on tracy to reduce the deficit and likely would have had the financial crisis not required stimulus.

Biden was using debt to invest in infrastructure and things like power generation that would yield returns unlike tax cuts that just exacerbate wealth concentration and inflation by asset appreciation due to capital chasing the same assets.

It’s not symmetrical one party is driving this and the irony is that they are the “fiscally responsible” party.

No amount of discipline is possible for democrats if every time they balance the budget republicans use the savings to cut taxes further.

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mmooss an hour ago | parent [-]

Biden also had to respond to the deflationary risk of the Covid pandemic.

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forestry an hour ago | parent [-]

Printing hundreds of billions of dollars is also inflationary. Governments change but the impact of all this takes a very long time to flow through the economy.

	▲	digitaltrees 2 minutes ago \| parent \| next [-]
		Except American was in a structural slump similar to but not quite as bad as japans lost decade which meant that interest rates were stuck as near 0% percent. The inflation caused by Covid actually broke that cycle and American was on a much better path. Go look at articles from the last year of bidens term in the economist and financial times. The US had achieved a soft landing by bringing inflation down to within fed targets while avoiding a recession. We were the envy of the world. Income inequality was reducing, real wages were increasing for the first time in generations and productivity vs wages were converging. Now we’re back to chaos and inflation and wage stagnation.
	▲	mmooss an hour ago \| parent \| prev [-]
		> Printing hundreds of billions of dollars is also inflationary. They borrow the money, but yes, inflationary is the point of doing it.