›

Debt

climbwithoutadbtclimbwithoutadbt
edited January 2008 in The Economy
So this is quite interesting and scary. The amount of U.S. Debt vs. GDP over the past 100 years.

http://www.comstockfunds.com/files/NLPP00000/292.pdf

Comments

  • deejayohdeejayoh
    Take out 20 years of Reagan and Bush(es) and that debt level would be a lot lower. It always kills me how the Republican party has turned into the party of debt, debt, and more debt but still manages to wrap itself in the flag of fiscal conservatism. Lowering taxes and taking on huge debt doesn't qualify as conservative financial policy, in my book.
  • AwaySoonerAwaySooner
    Now Bush is talking about cutting taxes to provide economy stimulus package. What a nut case! Our economy is "solid and strong", "mission accomplished".
  • deejayohdeejayoh
    Here's the growth in federal debt laid out by presidential administration. Click for a larger image.
    usdebtta9.th.png

    Even if you use a log-scale, you can't hide it.
    usdebtlog1qg8.th.png
    Neo-con=debt
  • SunTzuSunTzu
    A heavily indebted gov't isn't likely to fund social safety net programs, in fact, Social Security will face gutting sometime soon. The Repukes won't be happy until all the vestiges of New Deal are gone, but by then the the US will have been sold out by the Repukes.
  • ScotsmanScotsman
    Both Dems and Repubs have been playing the same game- I don't think it serves much purpose to try and blame one or the other. Only a severe recession/depression will force a change of direction in the federal gov now. You've got to take away their tax revenue to force a reconsideration of priorities.
  • deejayohdeejayoh
    Scotsman wrote:
    Both Dems and Repubs have been playing the same game- I don't think it serves much purpose to try and blame one or the other. Only a severe recession/depression will force a change of direction in the federal gov now. You've got to take away their tax revenue to force a reconsideration of priorities.

    I disagree. look at the charts. on this topic, it's pretty clear that 3 presidents have done most of the borrowing. You can say you don't care about federal debt, but you can't deny where the deficit has come from.
  • AlanAlan
    But Congress is as much to blame as the President, if even more so. What happens if you do the partitioning based on who is in control of Congress.
  • SunTzuSunTzu
    therefore we must gut'em....
    http://www.reuters.com/article/bondsNew ... 7120080110
Sign In or Register to comment.