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The TEA Party movement was inspired by a rant from Rick Santelli in 2009 and was supposed to be about lowering taxes, spending and the national debt. It influenced elections and also changed the GOP in ways that eventually made room for Trump.
So were its goals met?
So were its goals met?
On the day of Sentelli’s televised rant, America owed $10.8 trillion in national debt.
Today, 11 years, 6 months and 2 days later, America owes $26.6 trillion in debt - a 146% increase.
Today, 11 years, 6 months and 2 days later, America owes $26.6 trillion in debt - a 146% increase.
In the 2009 Fiscal Year, in the throes of the Great Recession, our Federal Budget Deficit was $1.413 trillion.
Right now, in the midst of what may be an even worse recession, we have a $2.806 trillion dollar deficit. And we still have a month and a half to go in the fiscal year
Right now, in the midst of what may be an even worse recession, we have a $2.806 trillion dollar deficit. And we still have a month and a half to go in the fiscal year
If you try to exclude the recessions, in FY08, before the Great Recession, we had a $458.6 billion dollar budget deficit.
In FY19, the year before COVID, we had a $984.4 billion dollar deficit.
We’re not spending less. And our debt is way, way worse than before Rick shouted.
In FY19, the year before COVID, we had a $984.4 billion dollar deficit.
We’re not spending less. And our debt is way, way worse than before Rick shouted.
In the 4,201 days between then and now, different parts of our federal government have been controlled by both major parties.
Democrats have held the White House for 68.84% of the days between 2/19/09 and today. When 57.97% of the new debt was incurred.
Republicans have held the White House for 31.16% of the days. When 42.03% of the new debt was incurred.
Republicans have held the White House for 31.16% of the days. When 42.03% of the new debt was incurred.
Democrats held the Senate from that day in 2009 through 2015 - 51.04% of the days. When 46.20% of the new debt was incurred.
Republicans have held the Senate since 2015, for 48.96% of the days since 2/19/09. When 53.80% of the new debt was incurred.
Republicans have held the Senate since 2015, for 48.96% of the days since 2/19/09. When 53.80% of the new debt was incurred.
Democrats held the House twice in the past 11 years. They held it until 2011 and since 2019 - a total of 30.45% of the days since 2/19/09. When 49.73% of the new debt was incurred.
Republicans held it for 69.55% of the days. When 50.27% of the new debt was incurred.
Republicans held it for 69.55% of the days. When 50.27% of the new debt was incurred.
Of course, there are a few factors in all of these numbers to be considered. The US was in recession during the first two quarters of 2009. GDP growth was -4.4% in Q1 of 2009 and -0.6% in Q2 of 2009.
We’re in recession now and the first two quarters of 2020 were -5.0% and -32.9%
We’re in recession now and the first two quarters of 2020 were -5.0% and -32.9%
All of this to say that if the goal of the TEA Party was to cut down on spending and debt, it did not realize its goal. If its goal was to put people in office who cared about fiscal discipline, that goal was not met either as both parties have borrowed and spent massively.
Even if you completely exclude the Great Recession and the current recession, our national debt has still doubled in that time period. Comparing our debt on the first day of the third quarter in 2009 with the last day of the fourth quarter in 2019, it rose 101.42%.
