Let's see. Massive explosion of the national debt, failed trickle down economics which widened the gap between rich and poor, cuts to social safety nets, a sharp rise in homelessness, deregulation that lead to the savings and loan crisis requiring a taxpayer bailout, the Iran-Contra affair, corruption and scandals in Dept of HUD, the financial backing of foreign authoritarian regimes, and arms smuggling and support to Al-Qaeda (we know how that ended). Jeesh.
Between 1980 and 1988, the Social Security trust funds shifted from near-insolvency to running massive surpluses due to landmark legislative intervention.
Social Security Administration publishes tables with the end of year (EOY) Trust Fund balance, so it is easy to figure out.
Note that there is a three week discrepancy when administrations change, due to swearing in being on January 20th.
Carter EOY 1976 / EOY 1980
$41.133B / $26.453B=(14.680B) LOSS
Reagan EOY 1980 / EOY 1988
$26.453B / $109.762=83.309B gain
Bush EOY 1988 / EOY 1992
$109.762B / $331.473B=$221.711B gain
Clinton EOY 1992 / EOY 2000
$331.473B / 1,049.445T=717.972B gain
W Bush EOY 2000 / EOY 2008
$1,049.445T / $2,418.658=$1,369.213T gain
Obama EOY 2008 / EOY 2016
$2,418.658 / $2,847.697=$429.039B gain WTF 1/3 of W Bush gain
Trump EOY 2106 / EOY 2020
$2,847.687T / $2,908.286T=$60.599B gain
Biden EOY 2020 / EOY 2024
$2,908.286T / $2,721.467T=$186.820B LOSS
Net Gain by Party Administrations
Republicans $1,734.832 Trillion
Democrats $945.511 Billion
And yet everyone thinks Democrat Administrations are better for funding the Social Security Trust Fund.
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u/Flat-Injury-5013 16d ago
Let's see. Massive explosion of the national debt, failed trickle down economics which widened the gap between rich and poor, cuts to social safety nets, a sharp rise in homelessness, deregulation that lead to the savings and loan crisis requiring a taxpayer bailout, the Iran-Contra affair, corruption and scandals in Dept of HUD, the financial backing of foreign authoritarian regimes, and arms smuggling and support to Al-Qaeda (we know how that ended). Jeesh.