Source: CounterPunch
by Dean Baker
“I have never been a deficit hawk, and I’m not about to change my religious affiliation now. But whatever we think of debt and deficits, there is one point that should be very clear: it has been run up almost entirely due to Republican tax cuts and their inept management of the economy. Every Democratic president of the last half century has left with a deficit that was lower, measured as a share of GDP, than the one they came in with, except Obama, who left it unchanged. By contrast, every Republican president has left with a considerably higher deficit than what they inherited.” [editor’s note: There have been no “tax cuts,” Republican or otherwise. If spending isn’t going down, taxes aren’t going down. Debt is just deferred payment of taxes – TLK] (08/25/26)
https://www.counterpunch.org/2026/08/24/the-40-trillion-debt-oh-my/