US Debt & Our Presidents

This is an awesome chart taken from a great paper by Steve McGourty. It clearly shows that republicans can no longer claim they are fiscal conservatives. It seems amazing with all the complaining republicans do about entitlements, that their party has been primarily responsible for pushing the US to the brink of bankruptcy! Can you believe that a big spending welfare-state democrat (i.e. Clinton) was actually paying the debt down!

Comments

	cracker 01/10/2008 10:46PM Simple, republicans advocate lower taxes but still spend money hence debt. Democrats raise taxes generally and thus can afford to spend the same and not have so much debt...
	technosophy 01/10/2008 11:09PM yeah, but the real question is: is more national debt good, bad, or irrelevant to the prosperity of our society?
	Anonymous User 01/11/2008 04:07PM Definitely bad as it leads to inflation and weakening of the dollar...bad the FED doesn't care since they just end up printing more money and issuing credit!!!
	Houshmandzadeh84 01/20/2008 10:08AM Probably the main reason the chart looks so bad for the U.S. and debt is because back in the early 1900's you didn't need to have millions of dollars to be rich, you just needed like hundreds or thousands to be rich. So little money to us now, was actually big money back then. (I hope that wasn't too confusing)
	technosophy 01/20/2008 03:59PM HiThisIsJudySpeakinHowMayIHelpYou?: While it's true that inflation of our currency is statistically significant when it comes to the increase in debt, the percentage of debt relative to GDP is increasing. This ulitmately spells disaster for the country. Here is a good document describing how the US government may actually go bankrupt as a result of out of control government spending.

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US Debt & Our Presidents

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