[Vision2020] a look at the federal debt

[Bill London]

A short history of the federal debt

 

      Presidents 
     National debt run up 

       
     Time it took
     Major events 
     Cumulative national debt left after each President 
     
      First 39 Presidents
     $900 billion
     200 years
     Revolutionary War Civil War, WW I, WW II, Korean War, Vietnam War, 1930 Depression, Cold War
     $900 billion
     
      Reagan
     $1.8 trillion 
     8 years 
     Cold War and 

      minor wars  

       
     $2.7 trillion
     
      Bush I 
     $1.5 trillion 
     4 years 
     Iraq War I 
     $4.2 trillion

       
     
      Clinton 
     $1.6 trillion 
     8 years 
     Yugoslavian wars.  Welfare reform.  Clinton had budget surpluses in last years of term; last previous surplus was in 1969 in the midst of the Vietnam War.
     $5.8 trillion
     
      Bush II
     $2.7 trillion 
     5.5 years
     Iraq War II, War on Terror,  

      tax cuts and more tax cuts,

      federal spending gone wild 

       
     $8.5 trillion

       
     
      Bush II

       
     $300 billion
     Projected: August 2006 --January 2007
     More of the same, with the only Bush veto on stem cell research, not spending.
     $8.8 trillion

       

       
     

Sources: Bureau of Public Debt, US Treasury Department.  Debt depicted on Idaho map.

 

Democrats are supposed to be the irresponsible tax and spend Marxists, but Otter/Bush record tells us a different story in the last six years -- it has been tax cuts and wild spending.  In case it comes up as an explanation for the massive debt, the Iraq War makes up less that 4 percent of the national debt run-up by Otter/Bush.
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