Two Words, Four Presidents: How America Became the Poorest Nation in the World

Op-ed by TheWiseOldFart

Most Americans ignore what the content of this story is all about. Terms like “the national deficit,” or “national debt” are a mystery to most Americans and therefore not an issue of great importance.

The simplest way to explain this situation is to use household economics. If your household income is $5,000 each month, but your family’s expenses are $6,000 a month, you have a very serious problem.

Our nation has a deficit of about 37 trillion dollars. That’s right, $37,000,000,000,000.00. Our great grandchildren will inherit this debt, and likely pass it on to their children.

POLITICIANS ARE BLOWING SMOKE UP YOUR ASS WHEN THE CLAIM THAT AMERICA IS THE “RICHEST COUNTRY IN THE WORLD”

If your monthly bills exceed your gross income, you are worse than poor. There is no feasible way to reverse the situation without removing all wasteful spending immediately, or find a way to increase your income.

It’s the same with a country. For the first time since 1946, our nation’s income is less than its expenditure, adding to the unimaginable debt and the incomprehensible number of 37 trillion dollars.

HOW DID WE GET HERE?

Every president chooses our nation’s fiscal policy. Unfortunately, four of our nation’s presidents since 1981 failed to understand basic economics, and made poor choices for their closest advisers, including their Secretaries of Treasury and Commerce.

After his inauguration in 1981, Ronald Reagan revealed his plan for America’s economic future. He called it “supply side economics.” However, it quickly became known by a more apt term, “trickle-down economics.”

Without a long explanation, this was Reagan’s philosophy. If America’s wealthiest men and women; those who own our largest corporations; were financially successful, they would expand their businesses, create new jobs, and as profits grew, the quality of life for all Americans would experience positive change.

Reagan reduced taxes on our nation’s wealthiest individuals and corporations, greatly reducing our nation’s annual revenue.

Here’s why Reagan’s expectations failed miserably.

Human beings are far from perfect. “Money is the root of all evil” because with more money comes an insatiable desire for even more money. The word is greed.

When Reagan left office in 1989, our nation was deeply in debt, and unemployment was growing rapidly.

IF OUR LEADERS FAIL TO LEARN FROM PAST MISTAKES, DISASTER IS INEVITABLE

One of the promises made by George H.W. Bush during his 1988 campaign was “no new taxes.” The result was devastating. Unemployment grew and America’s economy was in a downward spiral.

Forced to raise taxes, his reelection was doomed.

Bill Clinton was elected in 1992. His plan for our nation’s economy reversed the failures of Reagan and Bush 41, When he left the White House in 2001, our nation’s economy was thriving. Polices of free trade, and accountability paved the way for economic growth not seen for decades.

AN ILLEGAL ELECTION GAVE US THE SECOND WORST PRESIDENT IN HISTORY

After the most controversial presidential election in history, George W. Bush became our nation’s 43^rd president.

The election was held on November 7, 2000, but was not decided until December 12 when the United States Supreme Court ordered the cessation of a Florida recount.

Like his father and Reagan, he adopted the same fiscal policy of trickle-down economics. It got worse. He removed all oversight over the banking industry. After the tragic events on 9/11, Bush placed our nation in two costly and unwinnable wars.

By the end of 2007, the housing market crashed and the United States rushed into the Great Recession. The national debt exploded.

ANOTHER DEMOCRAT TO THE RESCUE

In 2008, America elected its first Black President. Barack Obama chose the most qualified individuals in our country, and by the end of 2016 America’s economy was in full recovery.

However, on November 8, 2016, the biggest mistake in our nation’s history was gifted the presidency, with the assistance of Vladimir Putin, the mainstream media, and FBI Director, James Comey.

Some political writers asked a facetious question: “how bad could he be?” They underestimated the ambitions of what was once known as the Grand Old Party. Every man and woman who called his or herself a “Republican” surrendered their morals, dignity, and respect to serve the worst man in the world.

WITH NO EXPERIENCE, A QUESTIONABLE EDUCATION, AND A LACK OF AVERAGE INTELLIGENCE, DONALD TRUMP BEGAN DESTROYING AMERICA

After his illegitimate election, Trump initiated his plan to move America backwards. While constantly violating the Constitution, he too adopted the fiscal policy of his failed Republican predecessors. Trickle-down economics 2.0 was even worse than before.

One of his first actions was to pass additional tax cuts for the super-rich. At the same time, he reduced funding for necessary social programs. In 2018, two American giants, Walmart and Amazon, paid zero dollars in taxes.

That was just the beginning. Trump will always find a way to make a bad situation worse.

Although Trump refuses to read, including the all-important Presidents Daily Brief, one of his aides informed him that a health emergency was beginning in Asia in December of 2019. Trump ignored the information. In January of 2020, when the press began asking him about his plan to fight the approaching coronavirus, his response was, “it will just go away.”

By the end of 2020, one million American lives had been lost, and our nation’s economy was moving towards a second Great Depression. As you might have assumed, the deficit had risen by more than four trillion dollars.

ONCE AGAIN, A DEMOCRAT SAVES AMERICA

When Joe Biden was sworn in on January 20, 2021, his first action was to form a plan to distribute the Covid-19 vaccine. Then he created plans to reverse America’s failing economy.

His distribution of stimulus checks to all Americans saved tens-of-thousands of Americans from standing in the unemployment lines, and reinvigorated thousands of small businesses which were struggling to remain open.

When he left office in January of 2025, the economy was moving steadily upward and forward.

Then the worst possible thing which could happen, did happen.

AMERICA’S NIGHTMARE RETURNS AND IS FAR MORE PAINFUL THAN THE FIRST TIME

After another illegitimate election, Trump returned, and his only goal was revenge. He planned attacks on every man and woman in America who refused to bow to his fascist demands.

More tax cuts were granted to the super-rich, and with Trump’s huge personal use of taxpayer money to play golf and travel to and from Mar-a-Lago, more money was taken out of the national treasury than was put in.

Trump added to the problem on February 28, 2026 when he made a unilateral decision to wage war with Iran. His illegal and immoral actions cost taxpayers more than one billion dollars each day. Another unwinnable war in the Middle East continues today.

Over the last year, Trump added another 1.7 trillion dollars to the national debt, inflation has become an even greater problem, and his war in Iran forced gas prices to increase to record highs across the nation.

However, the wealthiest Americans are not concerned. When Trump was sworn in on January 20, 2025, America had 902 billionaires/oligarchs. Today, there are 989.

Think about it.

Op-ed by James Turnage

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Sources: amarkfoundation.org: U.S. Presidents and the Federal Deficit

democrats.senate.gov: Just the Facts: Republicans Create Huge Deficits