The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Amy J who wrote (25679)	12/7/2004 9:47:57 PM
From: Elroy Jetson	Read Replies (2) of 306849

I'm not sure what percentage of the GNP the Federal Debt is currently. I suspect Grace might have handier access to that figure than I do (I'm just leaving for dinner). It is unfortunate after so much progress growing the economy past the high water debt mark of 117% of GDP in 1945 after paying for World War II. home.pacbell.net But, yes that's the really sad part. During the really hard years when Carter was President the debt didn't grow. But during the good years of Reagan's presidency the federal debt grew 60% faster than the economy. Geo Bush Sr tried to put an end to the "voodoo economics" with a tax hike and spending cuts, but we all know how poorly that was received. Bush Jr certainly learned from his Dad's unpopularity and has followed the "Ronald Reagan proved that debt doesn't matter" Bread, Circus and Wars Plan. It's all a very sad way to trash our nation's future. Some of us know that debt really does matter and the end result is not pretty. It's particularly disturbing coming back to "crazy town usa" again from Australia where a saner culture still prevails. .

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