JanieDough
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Thought this was neat, but I can't verify the integrity of the numbers.
United States National Debt and the Presidents Responsible for it
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Accountable
Well-Known Member
Reagan pushed to spend the USSR into oblivion and it worked. Too bad congress got hooked on it. I often wonder what would have happened if GHW Bush had celebrated winning the Cold War by dismantling the military down to sane levels. His part of that line would likely have been twice as long and in the opposite direction.
This one shows national debt as a percentage of GDP. This tells a better story since national debt is only one part of the puzzle. If we could double our GDP overnight, our debt would not be an issue anymore. But if our GDP was halved, our debt would bury us overnight. So debt is only have the story.
To put it a little more simply... If you and I doth had $100,000 in debt and I was making $10,000/year and you were making $500,000 a year, who would be in more trouble? So the $100,000 in debt means nothing if you don't compare it to what you are making.
To put it a little more simply... If you and I doth had $100,000 in debt and I was making $10,000/year and you were making $500,000 a year, who would be in more trouble? So the $100,000 in debt means nothing if you don't compare it to what you are making.
JanieDough
V.I.P User
This one shows national debt as a percentage of GDP. This tells a better story since national debt is only one part of the puzzle. If we could double our GDP overnight, our debt would not be an issue anymore. But if our GDP was halved, our debt would bury us overnight. So debt is only have the story.
To put it a little more simply... If you and I doth had $100,000 in debt and I was making $10,000/year and you were making $500,000 a year, who would be in more trouble? So the $100,000 in debt means nothing if you don't compare it to what you are making.
:thumbup:thumbup makes way more sense!
Burntblood
Active Member
Reagan took a bullet.
He's the most badass President since Harry Fucking Truman.
He's the most badass President since Harry Fucking Truman.
motorbyclist
Active Member
Scary stuff for america(n's).
The country always seems to have to live beyond all its means, falsely lead into believing all is well. Because what the hell, Dick Cheney says deficits are fine because I have my millions in offshore assets so lets all carry on consuming and increasing our already massive current account deficit.
The government will soon have to service the interest (let along the actual debt) through increased taxation, which we all love already huh? Government spending will drop dramatically after the final injectionss of the bailouts go through, aggregate demand will drop along with national income/GDP, but wow luckily this effect will be lagged due to the multiplier effect the money, but not for long.
Inflation will fall from a high altitude, as it was pushed up by the fed increasing money supply, which was overvalueing the economy in itself. Interest rates will drop, devalueing the currency and pushing away the all important foreign investment that has kept the country afloat for all this time.
Stagflation will occur, no wait, is occuring - Along with high inflation, unemployment is awfully high too. Oh joy!
The only good thing to come out of this is that maybe the corrupt country that is America, will take a fall from grace and when they sneeze, the rest of the world won't catch a cold anymore.
The country always seems to have to live beyond all its means, falsely lead into believing all is well. Because what the hell, Dick Cheney says deficits are fine because I have my millions in offshore assets so lets all carry on consuming and increasing our already massive current account deficit.
The government will soon have to service the interest (let along the actual debt) through increased taxation, which we all love already huh? Government spending will drop dramatically after the final injectionss of the bailouts go through, aggregate demand will drop along with national income/GDP, but wow luckily this effect will be lagged due to the multiplier effect the money, but not for long.
Inflation will fall from a high altitude, as it was pushed up by the fed increasing money supply, which was overvalueing the economy in itself. Interest rates will drop, devalueing the currency and pushing away the all important foreign investment that has kept the country afloat for all this time.
Stagflation will occur, no wait, is occuring - Along with high inflation, unemployment is awfully high too. Oh joy!
The only good thing to come out of this is that maybe the corrupt country that is America, will take a fall from grace and when they sneeze, the rest of the world won't catch a cold anymore.
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Accountable
Well-Known Member
I agree, generally, except that there's no way government spending will drop, dramatically or otherwise, so long as Obama is in office.
As for the second chart, that's what is most wrong with our country today. Individually and as a society, we see increases in revenue (income) not as an opportunity to pay off our debts to bring spending back within our means, but as an opportunity to borrow even more money, because now we can afford to pay more than the minimum payment.
As for the second chart, that's what is most wrong with our country today. Individually and as a society, we see increases in revenue (income) not as an opportunity to pay off our debts to bring spending back within our means, but as an opportunity to borrow even more money, because now we can afford to pay more than the minimum payment.
motorbyclist
Active Member
Hmmm, Obama needs to kick out his Keynesian fan boy advisor then. What a shame Milton Friedman died only recently.
Accountable
Well-Known Member
Not Keynes. Alinsky.
Minor Axis
Well-Known Member
This one shows national debt as a percentage of GDP. This tells a better story since national debt is only one part of the puzzle. If we could double our GDP overnight, our debt would not be an issue anymore. But if our GDP was halved, our debt would bury us overnight. So debt is only have the story.
To put it a little more simply... If you and I doth had $100,000 in debt and I was making $10,000/year and you were making $500,000 a year, who would be in more trouble? So the $100,000 in debt means nothing if you don't compare it to what you are making.
The corruption of politics (humans) when "conservatives" were in office. Most ironic, they were supposedly to be fiscal conservatives. The current crisis having been promulgated by the idiot President W aided and abetted by the sinister Cheney.
Accountable
Well-Known Member
Yup yup! :nod:
No really significant difference between the parties. Both want to maximize revenue, maximize spending, maximize government control.
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