US Debit History By President

[Gaspode]

Gross Federal debit as a percentage of GDP:
http://dshort.com/charts/federal-deb...olitics-update

[Boreas]

Originally Posted by Gaspode

Gross Federal debit as a percentage of GDP:
http://dshort.com/charts/federal-deb...olitics-update

Okay, I have to comment on this. The spikes you see associated with Democratic presidents have at least one of two primary causes. The first, as with Wilson and Roosevelt, is war. The second, as seen in the Roosevelt era and currently with Obama is the messes handed them by their Republican predecessors. I'm speaking of the Great Depression and the current economic crisis.

Also, the projections for Obama suggest that spending is leveling out. Who knows, though I doubt it, we may see a decline before long.

It's also important to remember that there are components in Obama's spending that are misleading. First is the fact that Bush's last budget ran through July of 2009. In other words, spending in the first six months of Obama's first term, slightly less than half of his presidency to date, was dictated largely by Bush. (This is true for all presidents, by the way.) The second thing to consider is that Obama ended the Bush Administration policy of funding his wars under the table through a series of "supplementals". Obama is putting it right up front in the budget for anyone to see.

John

[BlueStreak]

Let's see; Wilson--WW1, Roosevelt/Truman--WW2, Reagan/Bush--Unfunded tax cuts, Clinton--We paid our bills. Fancy that?, Bush the second--More unfunded taxcuts, first stimulus passed to head off financial disaster, Obama--Second stimulus bill. We still have as yet to see how it goes in the next two and a half years.

Is this what you intended it to reflect?

Dave

[piece-itpete]

Plus does it include the funds borrowed from social security? I've had a hard time finding that outside the GAO.

Just wait till 'deficit reduction Barry' has had a few years

Pete

[BlueStreak]

Originally Posted by piece-itpete

Plus does it include the funds borrowed from social security? I've had a hard time finding that outside the GAO.

Just wait till 'deficit reduction Barry' has had a few years

Pete

Reagan probably hid it very well.

Dave

[piece-itpete]

Hell they ALL did. It's the biggest bipartisan scam last century at least.

Pete

[JCricket]

My $0.02
If you look at the world economy and overlay it with that chart, I'd bet they look very similar.

In the beggining, the debts were because of WW1, the dreat depression, and WW2. After WW2, the rest of the world was in shambles, They were in a mode to rebuild their countries and try and put back together a manufacturing base. Our manufactuinr bas was unharmed. We were the producers of the worlkd. We were the strongest economy around. So of course we had the money to spend. As the other economies started producing and competeing with us, our dollars became less. We started shifitng our production elshwere. We spent money overseas. Less money came into our country.

I think this has as much to do with it as any other influence. But what do I know.

[merrylander]

Even the GAO predicts that the deficit will be halved in four years.