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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (35983)	7/17/2009 3:28:52 AM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 71588

What? (Talking / asking about GNP Growth - while interesting - is a shift from the topic of "reducing federal debt".) Although I'll freely admit (especially since I already pointed it out <g>) that GROWING GNP FASTER then growing borrowing is most likely the KEY to net reducing federal debt. Like I said: 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... (& perhaps we will also under the current officeholder, time will tell and future history has not been writ yet).