t.piwowar wrote:
On Sep 11, 2009, at 12:56 AM, Steve at Verizon wrote:
An 11.4 Trillion National Debt represents government living wayyyyyy
beyond its means.
Nonesense. What are you comparing that number to? Your pay check?
Properly you look at it as percent of GDP. A proper analysis is here:
http://zfacts.com/metaPage/lib/National-Debt-GDP-L.gif
This was the Bush party line when he grew the National Debt.
The chart shows that the national Debt was MUCH higher in the 40s and
50s. You should also note that the USA survived the 40s and 50s just
fine.
The problem with the huge national debt is that it will soon become the
largest item in the federal budget. That was not the case back in the
40s and 50s.
http://www.federalbudget.com/
I agree with you that the previous administration ( which included 2
years of a Democratic Congress) was fiscally irresponsible and ran up
the National Debt. I condemn that profligate spending.
But the party fully in charge now has quadrupled the budget deficits
which will drive up the National Debt unless they enact massive tax
increases.
This chart also shows that the run up in the National Debt was
inherited by the current administration and that they have increased
it by just a tiny amount. When you consider what a mess they are up
against that increase is perfectly reasonable. The alternative would
be far worse. The best way to pay down the debt is to get the economy
going again.
Again, the was the Bush mantra for his excessive spending.
Note that Clinton did precisely that.
Don't forget that Clinton had a Republican Congress to somewhat restrain
growth in spending (before they went hogwild with Bush). And most of the
gusher of revenue during the short surplus period was due to capital
gains from the skyrocketing stock market whose underlying values were
phony. Remember the tech bubble and Enron?
You just do not have your facts straight and your analysis is piss poor.
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