this post was submitted on 07 May 2025
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Political Memes

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[–] kibiz0r@midwest.social 21 points 13 hours ago (5 children)

Sure, bad things have happened every time we’ve tried tariffs.

But we have to do something to balance the budget!

The federal government has achieved fiscal balance (even surpluses) in just seven periods since 1776, bringing in enough revenue to cover all of its spending during 1817-21, 1823-36, 1852-57, 1867-73, 1880-93, 1920-30 and 1998-2001. We have also experienced six depressions. They began in 1819, 1837, 1857, 1873, 1893 and 1929.

Uhhhhhhhhhhhhhhhhh…

[–] Serinus@lemmy.world 17 points 12 hours ago (4 children)

So old Billy Clinton was the only president to balance the budget without causing a depression? Interesting.

[–] kibiz0r@midwest.social 14 points 11 hours ago (3 children)

The one exception occurred in the late 1990s and early 2000s, when the dot-com and housing bubbles fueled a consumption binge that delayed the harmful effects of the Clinton surpluses until the Great Recession of 2007-09.

[–] FearfulSalad@ttrpg.network 6 points 11 hours ago (1 children)

Oh, no problem then! The AI bubble will carry us through far enough until it all comes crashing down in... I want to say 2027?

[–] Voroxpete@sh.itjust.works 1 points 17 minutes ago

Yes... The AI bubble. Which is definitely still a thing. Definitely.

  • tugs nervously at collar *
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