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Politics : Formerly About Advanced Micro Devices
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tonto
To: koan who wrote (757880)12/15/2013 4:08:43 AM
From: TimF1 Recommendation  Read Replies (3) of 1575803
 
They have graphs showing the debt falling like a rock since 08.

Anyone who has such a graph is plugging in the wrong data, and likely doing so intentionally/dishonestly. It has to at least be carelessly.

Debt only falls when you have a surplus. We haven't had a surplus if you exclude intergovernmental debt since Clinton, and if you don't exclude such debt we haven't had one in much longer than that.

Debt as a percentage of GDP only falls if the debt is less than the growth. I've already calculated that we haven't had a deficit lower than the current amount of growth (in dollars, in other words total GDP in dollars multiplied by the growth percentage) since 2007.

Now you might be confusing the debt and the deficit but even then you would be wrong, since the deficit hasn't fallen like a rock since 08. Its still higher than 08.

Well maybe you meant 09, it has fallen since then, but not like a rock. 2011 was higher than 2010. 2012 was still over a trillion. Even the projected 2013 deficit is still over $750bil.

And GDP didn't grow much during that time, so the deficit as a percentage of GDP wouldn't drop by a much larger percentage than the deficit in dollar terms. So even as a percentage of GDP, and starting in 2009 or 2010 rather then your initial claim of 2008, you still don't get any "like a rock" drop.
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