You have to hand it to Larry Holterman; he really has a knack for “spinning” the numbers. “Figures don’t lie, but liars figure” is an old saying that has some truth regarding Holterman’s Sept. 10 comments.
About 1.4 million jobs were created in August, but Holterman neglected to mention that the U.S. is still down 4.7 million jobs since Trump took office and then crashed the economy after a total abdication of responsibility for COVID-19.
Holterman claims Biden is vowing to gut portions of Trump’s $1.3 trillion tax overhaul. Thank goodness! In 2019 under Trump, federal spending increased by 20.8% while revenues fell 16.3%. Big surprise, the GOP cuts tax revenue, increases spending and then huge deficits occur. Biden has to raise taxes!
Holterman then shifts to that totally false “Blue state bailout” GOP claim. Of the top 10 states contributing more revenue than they received, eight are “blue states.” Specifically, over the past four years, New York contributed $116.2 billion more to the federal government than it got back in federal spending. Kentucky received $148 billion more than they contributed.
Why doesn’t Holterman mention Trump’s claim to eliminate the national debt. That’s because Trump’s has increased the national debt by $4.8 trillion. That’s as much as Obama added in eight years while fighting a huge GOP-created recession.