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Politics : View from the Center and Left
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To: KyrosL who wrote (46655)1/23/2008 3:03:28 PM
From: Steve Lokness  Read Replies (1) of 542201
 
KyrosL

Thanks. It helps reduce the tremendous misconceptions about who parties and who runs a tight ship

Come on. You convenient start at the end of WWII when the chart shows 90% of GDP. Under who did the deficit get to 90%? If you run it back a few years to include the increase under Roosevelt during the depression and WWII cost increases - it would look like the democrats were spending idiots - and throwing "parties".

The chart completely distorts the picture that in good times the debt needs to be brought under control and that in bad times there may be a need to deficit spend. Would you argue that we needed to go into debt during WWII? of course there was and that's why it got to be over 90% of GDP. How about the depression? By the time Roosevelt came into power the depression was well along the way, what should he have done?

To say this is a "great chart" is to buy the notion that deficits don't matter. Heck as a percentage of GNP, we are no worse today than under Eisenhower and a heck of a lot better than under Truman. Deficits do matter and and that is the evil under Bush and Reagan's later years. That is, that under good years as in the start of your chart you better get the deficit under control.

Eisenhower and Nixon were republicans by the way - so the decreases under them don't count. arrrg.

steve
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