Tuesday, May 18, 2010

Debt Graphs

It's not very difficult to figure out the debt picture, if you think "war" plus a few other nuances.

And yes, GWB was a wastrel, particularly when aided by a (D) Congress.

HT: Barry Ritholtz


Billiam said...

Ah, but most lefty's won't admit any complicity in the situation we face. It's all the fault of Bush. Of course, since many people weren't taught that Congress controls the purse, you have an ignoranyt audience willing to buy that lie. This situation was also brought on by decades of corruption in both houses of Congress.

Jim said...

There was only a "(D) Congress" for 4 of 8 years during Bush II. Actually I think there is a strong correlation here with tax cuts for the wealthy as well.

J. Strupp said...

Most leftys WILL admit that.

You're making shit up.

But you better take a good, hard look at that chart from 1980-present.

Then overlay a chart representing income tax rates during that same period. Then overlay a chart representing real wage growth during that same period for the various income levels. Then overlay a chart representing the share of financial sector's share of total GDP. Something happens in the 80's. I'll let you try and figure that out for yourselves.

This story is not simply about the spending. Tax cuts and de-regulation of financial markets deserve equal blame for this nightmare unfolding at present.

J. Strupp said...

Looks like Jim beat me to the punch.