what was the best time in American history?

Superfreak said:
which can be said about every President since Ike
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Ladies and gentlemen, we hope you enjoyed the latest episode of SF's Fun with Nominal Dollars.

Measured as a percentage of GDP (i.e. measured in relation to the potential ability to pay it back), there are some presidents who left office with lower debt than when they assumed office. Like Clinton and Carter, to name the two most recent.
 
Darla said:
Can you read the chart to me? Thanks for the other stuff though! I am already at work memorizing it, I should be able to parrot it by tomorrow!
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bottom line is that SS as a percent of GDP was about 4.2% in 2007 and is expected to go to about 6.2% by 2036. Almost 50% more.
 
Dungheap said:
Ladies and gentlemen, we hope you enjoyed the latest episode of SF's Fun with Nominal Dollars.

Measured as a percentage of GDP (i.e. measured in relation to the potential ability to pay it back), there are some presidents who left office with lower debt than when they assumed office. Like Clinton and Carter, to name the two most recent.
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Ladies and gentlemen, again we have Dung trying to protect his Dem masters from the fact that they raised the debt. Just because GDP grew at a faster pace than the debt does not change the fact that they saddled future generations with more debt. Dung just likes to pretend that isn't a big deal.
 
Dungheap said:
Ladies and gentlemen, we hope you enjoyed the latest episode of SF's Fun with Nominal Dollars.

Measured as a percentage of GDP (i.e. measured in relation to the potential ability to pay it back), there are some presidents who left office with lower debt than when they assumed office. Like Clinton and Carter, to name the two most recent.
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Dung, can we clone you.... I wish we had more of you in the USA.
 
Superfreak said:
Ladies and gentlemen, again we have Dung trying to protect his Dem masters from the fact that they raised the debt. Just because GDP grew at a faster pace than the debt does not change the fact that they saddled future generations with more debt. Dung just likes to pretend that isn't a big deal.
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Um, percentages matter, not absolute dollars. If your income increased by 100,000 but your dept only increased by 10 - do you look at the dollar increase or the percentage? sane people look at the percentage.

http://zfacts.com/p/318.html

and of course, you have to look at the times.

As the article says -
Notice how the debt accelerated during Bush's last two budget years. Obama's debt is a continuation of that trend and neither Bush nor Obama are directly responsible for that acceleration. It happened because of the recession. Bush set the all-time record by increasing the debt by $1.1 trillion in 100 days between July 30 and Nov 9, 2008—but that had little to do with his choices.
Recessions cut tax revenues—in this case, dramatically. That accounts for nearly half of the deficit. So blaming Obama for the full deficit is like blaming him for not raising the tax rate to keep tax revenues up. Most of the increased spending is automatic increases in unemployment benefits, food stamps, and social security payments for early retirement. Very little of it is from stimulus spending, and that's over.
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You know what? in recessions, debt increases - AND IT SHOULD
 
Darla said:
LOL

You truly are crazy. I am not parroting anyone. Any economist writing on SS states that SS is solvent.
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based on the assumption that the US will continue to pay its obligations to the SS fund on an annual basis, it is solvent......the question dodged is how are we going to pay those obligations on an annual basis....
 
Carter:

fredgraph.png


Reagan:

fredgraph.png


George Herbert Walker Bush:

fredgraph.png


Clinton:

fredgraph.png


George W. Bush:

fredgraph.png
 
tekkychick said:
Um, percentages matter, not absolute dollars. If your income increased by 100,000 but your dept only increased by 10 - do you look at the dollar increase or the percentage? sane people look at the percentage.
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No, sane people realize they must pay back in dollars, not percentages. The reason for that is that when you look at debt as a percent of GDP, what happens in a recession? Does your debt go down with GDP or does it as a percent of GDP escalate?

You know what? in recessions, debt increases - AND IT SHOULD
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yes, it increases in recessions. The problem is that we have also increased the debt every other year as well. We have not been in a recession for several years, yet we were still outspending revenue by $1T+ per year (now down to about $700B).
 
Dungheap said:
Ladies and gentlemen, we hope you enjoyed the latest episode of SF's Fun with Nominal Dollars.

Measured as a percentage of GDP (i.e. measured in relation to the potential ability to pay it back), there are some presidents who left office with lower debt than when they assumed office. Like Clinton and Carter, to name the two most recent.
Click to expand...

funny think about looking at it that way....five years later when the GDP is lower, the debt is still there....but now its a higher percentage of GDP even though it was incurred under a different president.....
 
Dungheap said:
Carter:

fredgraph.png


Reagan:

fredgraph.png


George Herbert Walker Bush:

fredgraph.png


Clinton:

fredgraph.png


George W. Bush:

fredgraph.png
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I wish these charts were more familiar to the American People. I suspect if they were, opinions about our presidents would be a bit different and the make up of congress would be significantly more liberal.
 
Jarod said:
I wish these charts were more familiar to the American People. I suspect if they were, opinions about our presidents would be a bit different and the make up of congress would be significantly more liberal.
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Look who controlled the House in the '80's. Look who controlled Congress from '94 - '06. Look who controlled Congress from '07-'10. Do those numbers suggest we need a more liberal Congress?
 
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