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Politics : American Presidential Politics and foreign affairs
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To: RMF who wrote (68611)1/4/2014 3:55:22 PM
From: TimF  Read Replies (1) of 71588
 
BEFORE Reagan the National Debt over 200 years had "gradually" moved up to almost 1 Trillion.

That's inaccurate or at least it creates a distorted impression. 1st of all the dollars in the past where of more value, adjust for inflation and those deficits where more severe. Then you have the fact that the economy was smaller in the past, again those past deficits were more severe. That covers the "distorted impression" part. As for "inaccurate", well there was nothing gradual about the increase of deficits and debt during the Civil War, WWI, Depression, and most esp. WWII.

Even from the post WWII deficits, there wasn't so much a sudden huge jump up as there was a continuing of the general trend (the trend continued up, and you had an upward blip up from the major double dip recession caused by the wringing out of the extreme 70s and early 80s inflation, but compare peaks to peaks or troughs to troughs and there was no sudden jump up, the slope of the trend stays about the same)



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