Monday, September 28, 2009

Concerns about the National Debt

It seems that the Republicans have gotten the public attention in ensuring the National Debt does not grow under President Obama. The outrage has manifested itself in "Town Hall" meetings this past August and continues in any public gatherings with politicians in well organized attacks on proposed healthcare reform or should I say health insurance reform. I thought I would once again set the record straight by posting today's chart. You will need to click to enlarge it, but it is clear which Presidents have increased the National Debt over the past. Oh, and the chart does not show all the debt under George W. Bush. He actually added over $4 Trillion to the national debt so make sure you extend the chart up to $10 Trillion, as the chart only goes to $7 Trillion for President George Bush (source). Under President Clinton, you will notice he turned the trajectory of the curve only to have it turn up again under Bush. I ask you, where were the Republicans worrying about the National Debt under Reagan or under the past 8 years of George W. Bush when the Republican controlled Congress passed huge tax cuts for the wealthiest Americans? Or spent money on the Iraq war "off budget" never accounting for the hit on our debt as we borrowed money we didn't have for a war we should never have fought.

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