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.
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3 comments:

  1. steveegg10/29/2011 7:39 AM

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

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  2. J. Strupp10/29/2011 9:16 AM

    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.

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  3. Jim10/29/2011 12:20 PM

    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.

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