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Politics : American Presidential Politics and foreign affairs
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To: Peter Dierks who wrote (32566)2/12/2009 9:20:24 AM
From: DuckTapeSunroof  Read Replies (2) of 71588
 
Re: "... total federal spending declined to 21.2% of GDP in 1989 from 23.5% of GDP in 1983."

Yet somehow the federal BORROWING continued to RISE so fast, and always exceeded the real growth rate of the economy so much so that Reagan's two terms ended up with the second highest rate of increase in the national debt of *any* Presidency since WW II.

Only exceeded (and just barely) by the *even faster* rate of increase in the national debt that unfortunately happened when his vice President ascended to the WH. H.W. Bush.

The problem with the statistic you quoted ("total federal spending") is that it ignores borrowing and is not measured as a PERCENTAGE OF NATIONAL PRODUCT... which is what nearly all economists will tell you is the most accurate and informative way to look at a nation's debt: debt measured against the size of the economy.
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