Saturday, October 29, 2011

Who Creates All the Big Bad (National) Debt?

The answer:  Congress AND Presidents who spend more than the US takes in.

That's who.

We could mention Medicare, the Dept of Education, Medicaid, EPA, Housing/Urban Development, TARP, Cash-for-Clunkers, wars everywhere.......makes no difference. 

Here's a chart which shows Nat'l Debt/GDP.  There's a spike which began with TARP, but which also happens to continue upward.

So yah.  It's the Ruling Class bozos--all of 'em--who are happily spending money.


steveegg said...

The last time the national debt decreased on a current-dollar basis (measured by fiscal year) was beween FY1956 and FY1957.

J. Strupp said...

I believe 60% of our national debt has been generated during the last 3 Republican administrations.

It's both parties for sure but one party appears to be more irresponsible than the other. Supply side economics.

Jim said...

Actually J, it's worse. Reagan, Bush 41 and Bush 43 added $10.9 Trillion while Clinton and Obama added $3.7 Trillion. Of $14.2 Trillion, that's 77% of the debt incurred during the last three Republican administrations.