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BUBBA — The Big Ugly Budget Busting Act [1]
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Date: 2025-05-25
Everybody knows Republicans are the party of fiscal responsibility and careful management of federal spending and the economy.
HA!! Had ya going there, didn’t I?
The truth, as shown once again by the Big Ugly Budget Busting Act (BUBBA), is that Republicans spend like sailors on shore leave after 6 months on the water. The unfortunate truth is that their results are achieved by eviscerating income while increasing spending on pet projects like “defense”. And cutting safety-net programs, of course.
The Republican “Record”
Of the 11 recessions that have occurred in the modern post-1945 era, 10 occurred under Republican presidents. Republican presidents inherit strong economies from Democrats and leave their successors with much weaker economies. For example, President George W. Bush inherited a strong economy from President Bill Clinton and ended his presidency with the Great Recession.
President Donald J. Trump inherited the longest run of job creation in modern US history from President Barack Obama and then became the first president in the modern era to oversee net job losses during his term. There were 2.7 million fewer Americans employed when Trump left office.
Trump’s Secretary of the Treasury, Scott Bessent, insists BUBBA will both grow the economy and control the debt.
Growing the economy out of debt has long been a talking point for the Art Laffer-inspired supply side, or “trickle down,” economic theory, for every Republican administration going back to Ronald Reagan. Not one of these administrations, however, ended up lowering deficit spending by a promised growing economy. “You mentioned economic growth in your comment there,” Fox News anchor Bill Hemmer noted during a Friday morning interview on America Newsroom. ”This bill adds trillions to our debt. How is that acceptable to this administration?” “What’s important, Bill, is that the economy grows faster than the debt,” Bessent continued. “So what I would tell your viewers to focus on is what I’m focused on is: What Secretary Yellen was focused is, what is the total debt to GDP. Because we can grow our way out of this; that if we change the growth trajectory of the country, of the economy, then we will stabilize our finances and grow our way out of it.” Source: Mediaite
So how does Bessent’s assertion track with Trump’s first term record? You had to ask?
Trump GDP Growth
2017 : 2.5%
2018 : 3.0%
2019 : 2.5%
2020 : -2.2%
Avg: 1.45%
Trump Debt Growth
2017 $20.25 trillion : 3.42%
2018 $21.50 trillion : 6.17%
2019 $22.72 trillion : 5.67%
2020 $26.95 trillion : 18.62%
Avg: 8.47%
[h/t to seedycharacter for the BUBBA acronym, altho I changed the words a bit]
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