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Politics : Bush-The Mastermind behind 9/11? -- Ignore unavailable to you. Want to Upgrade?

To: Don Earl who wrote (7009)	6/11/2004 11:51:39 PM
From: sea_urchin	Respond to of 20039

Don > Measured in gold, the debt of 1900 was around a tenth of what it is today, but I don't think it would be fair to call it debt free. Sure, but the article makes the point that, as result of subsequent inflation, the value of the debt became substantially less. (Of course, the money did, too, but he doesn't mention that) >>When one factors in inflation this means the value of the debt declined significantly. Even through the 1960s and 70s which included Vietnam, the space race and the arms race the debt only grew modestly increasing to 789 billion in 1979. This was still a relatively low and manageable amount factoring inflation and growing GNP<< Anyway, just in case there's any doubt about what's going on, here's a nice picture: mwhodges.home.att.net And another one: mwhodges.home.att.net