Jay Newton: Investments by Democrats encourage growth, prosperity in the US

To The Daily Sun,

Thanks to Democrats for saving us money. I know that sounds strange, aren’t Republicans the ones who are conservative and save money? No they are not. Let’s look at the facts.

This year President Joe Biden’s budget projects that the deficit in 2022 will be $1.3 trillion lower than last year. This is not unusual. Despite inheriting high deficits and often disasters —Barack Obama got the great recession and Biden got the pandemic — Democratic presidents have not only brought the country out of those catastrophes, they’ve saved us money at the same time.

A budget deficit results when the revenue from taxes is less than spending in a fiscal year.

History shows that during their terms in office, Ronald Reagan increased the deficit from $78 billion to $152 billion. George Bush 41 took it to $290 billion. Bill Clinton turned that into a $128 billion surplus. George Bush 43 took that surplus and ended with a $1.4 trillion deficit. Obama reduced that deficit to $584 billion. Donald Trump elevated that to $3.1 trillion and Biden in his second year of office expects to reduce the deficit by $1.3 trillion.

It seems like Democrats are spending so much, how can they be saving us money? It’s explained by the difference between investments and giveaways.

Democrats invest in America and our people. The benefits gained from spending money on infrastructure, education, health, the environment, nutrition, eldercare and childcare are worth several times the outlay for those programs.

As Republicans who claim to run our government like a business should know, investments encourage growth and prosperity which leads to smaller deficits. Giveaways like tax cuts for the wealthy (provided by Reagan, Bush 41, Bush 43 and Trump) don’t improve our country, they simply add to the deficit.

Vote for Democrats to strengthen America while protecting your wallet.

Jay Newton

Gilford