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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (36207)	9/12/2000 12:38:46 PM
From: Neocon	Respond to of 769667

There was a spike, but by the time Reagan left office, the deficit had been reduced so much that the rate of growth of the debt was, indeed, lower than the growth rate. Anyway, since a small fraction of the trillions of debt comes due any given year, it is silly to say that we are just paying interest. A small percentage of revenues goes to debt service, less than most people pay for mortgage, car, and credit card debt, about 20%. As a percentage of GNP, at the end of the Reagan years debt was about 55%, and the deficit was 2.6%.......