Chuck Todd

It's become less about voters and more about who's got the best finance shop, who's got the best new vehicle to move money before the other side sees it. Now let's talk about my other dead rail issue. It's the debt. This one's even easier to track. You can basically set your watch to when people start pretending to care about the debt.

It's become less about voters and more about who's got the best finance shop, who's got the best new vehicle to move money before the other side sees it. Now let's talk about my other dead rail issue. It's the debt. This one's even easier to track. You can basically set your watch to when people start pretending to care about the debt.

Republicans, for example, only worry about the debt when a Democrat is president. Democrats rediscover deficit hawkery the moment Republicans propose a tax cut. I mean, just look at the last few decades. Clinton raised taxes to bring the deficit down. He was told the markets would reward him, and they did. We had pretty good prosperity. And yet that blueprint has never been followed again.

Republicans, for example, only worry about the debt when a Democrat is president. Democrats rediscover deficit hawkery the moment Republicans propose a tax cut. I mean, just look at the last few decades. Clinton raised taxes to bring the deficit down. He was told the markets would reward him, and they did. We had pretty good prosperity. And yet that blueprint has never been followed again.

Republicans, for example, only worry about the debt when a Democrat is president. Democrats rediscover deficit hawkery the moment Republicans propose a tax cut. I mean, just look at the last few decades. Clinton raised taxes to bring the deficit down. He was told the markets would reward him, and they did. We had pretty good prosperity. And yet that blueprint has never been followed again.

We had balanced budgets for a few cycles, a few two-year cycles in a row. We actually even paid down the debt a little bit. By the way, deficit and debt. Deficit is the annual budget when we don't meet our budget targets and when we have to borrow on the credit card. That's the deficit.

We had balanced budgets for a few cycles, a few two-year cycles in a row. We actually even paid down the debt a little bit. By the way, deficit and debt. Deficit is the annual budget when we don't meet our budget targets and when we have to borrow on the credit card. That's the deficit.

We had balanced budgets for a few cycles, a few two-year cycles in a row. We actually even paid down the debt a little bit. By the way, deficit and debt. Deficit is the annual budget when we don't meet our budget targets and when we have to borrow on the credit card. That's the deficit.

The debt is the accumulation of those annual deficits, if you're trying to understand the difference between the two. But the Bush years came after Clinton. We had tax cuts, two wars, and a brand new Medicare entitlement. Remember Part D, prescription drugs? All of that on a credit card. The debt exploded. Obama comes in during a recession. Stimulus spending. Had to, right? Bailouts.

The debt is the accumulation of those annual deficits, if you're trying to understand the difference between the two. But the Bush years came after Clinton. We had tax cuts, two wars, and a brand new Medicare entitlement. Remember Part D, prescription drugs? All of that on a credit card. The debt exploded. Obama comes in during a recession. Stimulus spending. Had to, right? Bailouts.

The debt is the accumulation of those annual deficits, if you're trying to understand the difference between the two. But the Bush years came after Clinton. We had tax cuts, two wars, and a brand new Medicare entitlement. Remember Part D, prescription drugs? All of that on a credit card. The debt exploded. Obama comes in during a recession. Stimulus spending. Had to, right? Bailouts.

Republicans cry foul, but where were they a decade before? Trump takes office during an economic expansion and passes another massive tax cut, unpaid for. The debt grows again. No one blinks. Biden inherits pandemic spending, also growing the debt, adds trillions more in new programs, also growing the debt, and every turn the debt only grows.

Republicans cry foul, but where were they a decade before? Trump takes office during an economic expansion and passes another massive tax cut, unpaid for. The debt grows again. No one blinks. Biden inherits pandemic spending, also growing the debt, adds trillions more in new programs, also growing the debt, and every turn the debt only grows.

Republicans cry foul, but where were they a decade before? Trump takes office during an economic expansion and passes another massive tax cut, unpaid for. The debt grows again. No one blinks. Biden inherits pandemic spending, also growing the debt, adds trillions more in new programs, also growing the debt, and every turn the debt only grows.

And politicians only seem to care about it when they're not the ones holding the checkbook. But here's the dirtiest secret in Washington. Most of the money that gets spent in politics is spent to get more money out of government, either via a loophole or a subsidy. So think about that. Nobody donates millions to a super PAC because they want government to shrink.

And politicians only seem to care about it when they're not the ones holding the checkbook. But here's the dirtiest secret in Washington. Most of the money that gets spent in politics is spent to get more money out of government, either via a loophole or a subsidy. So think about that. Nobody donates millions to a super PAC because they want government to shrink.

And politicians only seem to care about it when they're not the ones holding the checkbook. But here's the dirtiest secret in Washington. Most of the money that gets spent in politics is spent to get more money out of government, either via a loophole or a subsidy. So think about that. Nobody donates millions to a super PAC because they want government to shrink.

They want tax breaks or they want a subsidy or they want a contract or they want to carve out. Whether it's direct spending or indirect giveaways, the goal is the same. Return on investment. Those donations are not just out of the goodness of their heart. And that's where these two dead rails meet. And maybe these dead rails can produce a little bit of voter electricity.

They want tax breaks or they want a subsidy or they want a contract or they want to carve out. Whether it's direct spending or indirect giveaways, the goal is the same. Return on investment. Those donations are not just out of the goodness of their heart. And that's where these two dead rails meet. And maybe these dead rails can produce a little bit of voter electricity.

They want tax breaks or they want a subsidy or they want a contract or they want to carve out. Whether it's direct spending or indirect giveaways, the goal is the same. Return on investment. Those donations are not just out of the goodness of their heart. And that's where these two dead rails meet. And maybe these dead rails can produce a little bit of voter electricity.