Facts, not Fiction: Last Two Republican Presidents Bankrupted America
Op-ed by TheWiseOldFart When Bill Clinton left office in 2001, our nation no longer had a deficit. He eliminated the national debt and left his successor with a surplus for the first time in many years. However, George W. Bush placed our nation in two costly and unwinnable wars. His fiscal policy, originated by Ronald Reagan in 1981, known as “trickledown economics,” failed miserably. These factors led to the Great Recession and the destruction of the housing market. However, the super-rich continued to receive huge tax breaks. Their numbers grew under the failure of another right-wing president. Trump reduced taxes once again on corporations and the wealthy. When he failed to lead our nation in the fight against the Covid-19 coronavirus in 2020, another recession neared and our economy crashed once again. He left the economy in shambles for President Biden to repair. He, too, chose a policy of trickledown economics. The lesson I give you is simple and proven by historical fact. ...