Serowbot wrote on 10/21/22 at 10:28:28:Here's a quick History Lesson: All four Republican presidents since 1980 increased the federal deficit during their time in office: Ronald Reagan had a 94% increase, George H.W. Bush had a 67% increase, George W. Bush had a 1,204% increase, and Trump had a 317% increase.
The two Democratic presidents since 1980 decreased the federal deficit: Bill Clinton had a 150% decrease to end his presidency with a federal surplus of $128 billion, and Barack Obama decreased the deficit by 53%.
This is the ultimate example of that famous saying; statistics are like lampposts for drunks. They’re used more for support than illumination.
The massive government Covid spending spree is over plus companies coming back on line (to a much smaller degree than before) are paying taxes so when you put those two things together over a narrow range in time, you see a shrinking deficit. Now, the politician and their supporting cast in the media will claim this is evidence their policies will deliver this trend continuously.
But in my world, when you analyze companywide sales revenue for example and you look at a narrow range in time, you could say sales are up and you think holy cow everything is going great. But that’s not always the case. When you look at broader, historical trends and you realize the pattern is a temporary one that repeats itself over and over, you realize claiming this as long term success demonstrate your foolishness and will only get you fired.
This is why this administration saying they created more jobs than any other president is ridiculous. They created more jobs because there has been such a loss of jobs that measuring the period of time during the recovery and comparing that to historical long-term trends is preposterous. That’s like taking your bank account on payday and extrapolating it out for 365 days and saying your income is that particular day multiplied by 365. No one does that except in politics. That’s what’s going on here and you fell for it.
So put on your little blue team jersey, grab your pendant stand up and cheer “yay us” for now but remember, you’re not even to halftime.