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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (35961)7/14/2009 11:31:07 AM
From: DuckTapeSunroof  Read Replies (2) of 71588
 
Re: "The chart on the bottom mostly indicates that we paid down a lot of the debt from WWII and then after that we went on a spending/debt spree"

Well sorta.

To be much more accurate, what the chart illustrates is that after WW II (and the massive debt the US incurred to finance the war), *ALL* American administrations succeeded in growing federal revenue / reducing net federal debt (mostly by running balanced budgets while the economy itself grew) up until President Ford - who oversaw a modest net increase in national debt.

Then, (after additional modest debt reductions by Carter), we saw MASSIVE net national debt increases under Presidents Reagan, Bush I, and Bush II....

On an annualized basis (debt percentage increase per annum), Bush I produced the ABSOLUTE WORST record since World War II... (followed by President Reagan, then the second Bush.)

While on a gross basis of total amount added to the national debt (because Bush I had only one term, while Reagan and Bush II were two term presidents), the worst-for-national-debt-since-WW II was Reagan, followed by Bush I and then Bush II.

GRAPH OF DEBT HISTORY SHOWING PRESIDENTS (April 2006 data point --- note PLS that Bush II wound up exceeding even this prediction for his second term. National Debt increased by 5.3 Trillion since Bush II became president, much more then even this chart projected... but still at an annualized rate, over his full two terms, at less then the annualized rates Bush I and Reagan posted.)

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