Sounds like you're confused.
There is a huge difference from what a candidate promised and reality.
Trump promised to pay off our debt!
Biden promises to be carbon neutral
Don't make investment choices on idiotic pie in the sky promises.
The reality is importing Canadian oil does not help our trade balance. One might argue it does the opposite Plus we can still get it here by rail. Which will please Warren Buffet
And drilling is now being guided by sound lending principles....have you looked at the monetary loss wall street recieved with that drill baby drill mantra? That was not sustainable.
But yes...I agree. Salty does not know shit about the history or economics of the oil industry
Originally Posted by WTF
Obama pledged to cut the debt in half by the end of his first term. how'd that work out?
2008 $
10,025 68% Bank bailout & QE
2009 $11,910
82% Bailout cost $250B ARRA added $242B
2010 $13,562
90% ARRA added $400B, payroll tax holiday ended, Obama Tax cuts, ACA, Simpson-Bowles
2011 $14,790
95% Debt crisis, recession and tax cuts reduced revenue
2012 $16,066
99% Fiscal cliff
2013 $16,738
99% Sequester, government shutdown
2014 $17,824
101% QE ended, debt ceiling crisis
2015 $18,151
100% Oil prices fell
2016 $
19,573 105% Brexit
now before you jabber about Reagan again, let's take a look shall we?
1980 $908 32% Volcker raised fed rate to 20%
1981 $998 31% Reagan tax cut
1982 $1,142 34% Reagan increased spending
1983 $1,377 37% Jobless rate 10.8%
1984 $1,572 38% Increased defense spending
1985 $1,823 41%
1986 $2,125 46% Reagan lowered taxes
1987 $2,350 48% Market crash
1988 $2,602 50% Fed raised rates
in raw numbers Reagan tripled the debt, Obama "only" doubled it. got that, professor?
now look at the GDP percentages. which president really jacked it up? remember professor you blabbered about the ratio in earlier posts so you can't back off now, Yosemite Sam.
Obama. under Reagan it increased 18% capping at 50%. under Obama it increased 37% capping out at 105%.
Lusty is right. Obama is the debt whore prez. and why do you dislike Ronnie so much? did he once fornicate with a close familial relation of yours?
BAHHAAHHAAAA