Bending the Third Rail
Because We Should, We Can, We Do
Thursday, March 30, 2006
We Are Bankrupt.
When are we going to wake up and acknowledge that fact?
Amazing. Although Clinton brought the numbers down, we still haven't had a zero debt balance since... uh, when? Jackson in the 1800s?
Some interesting info here:
By the beginning of 1981, the national debt had fallen to 32.5% of GDP. Then, Reagan took office and the national debt took off. It rose non-stop for 12 years to 66.3% at the end of Bush's term, erasing 25 years of progress in paying down the national debt.

There is also a great graph of debt per president here. (Blogger won't upload the graphic for some reason.) Although I don't have a degree in Economics, I can see that the Republicans have done the most damage by far.
Written at 5:14 AM by Lynne.
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