Debt Question

Cypress said:
Wierd. Debt and fiscal responsiblity seems to have been manged better in the so-called liberal democratic era from the end of WW2 to 1980, and then cratered in the era dominated by republicans since 1980.

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You would think the "liberal " media would never let the people forget this ?
 
TheDanold said:
Probably in about 2009, we will hit the symbolic mark of $10 trillion in debt, do you think that extra zero will jolt people into realizing just how bad we need to cut spending?
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Maybe we need to raise taxes? Maybe a 50% tax on those in the top bracket?

Anyway, since your chart doesn't take inflation into account, even if our real debt did drop dramatically it wouldn't show up much on such a chart.
 
Watermark said:
Maybe we need to raise taxes? Maybe a 50% tax on those in the top bracket?

Anyway, since your chart doesn't take inflation into account, even if our real debt did drop dramatically it wouldn't show up much on such a chart.
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Funny you should mention that. Dano appears to have gotten his graphic from this site:

http://www.brillig.com/debt_clock/faq.html

Just below his graphic you see the same chart adjusted for inflation:
 
inflation.gif


However, even adjusting things to inflation it's kind of off balance - since it doesn't take into account cost of living. Cost of living often far exceeds inflation, and it's just as important.

The chart that I posted it the most accurate picture of things - debt as a percentage of GDP.
 
I just think it's fascinating looking at these charts and seeing the 40 or so year liberal era and how stable debt was until the Republicans revolution in the 80s. 12 years later, a Democrat comes back in office and debt stops rising so quickly and even begins to recede. Then Bush comes back in and it's going up as fast as it was in the early 80s.

These people purport to be the fiscally responsible people? Amazing.
 
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