COMMENTARY: Another Two Weeks, Another $32 Billion In Debt
Posted: February 10, 2013 at 1:58 a.m.
This past two weeks, the national debt grew by $32 billion — more than $2 billion a day — and Congress and the White House didn’t do much about it.
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Opinion, Pages 11 on 02/10/2013
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"Federal debt began the 20th century at less than 10 percent of GDP. It jerked above 30 percent as a result of World War I and then declined in the 1920s to 16.3 percent by 1929. Federal debt started to increase after the Crash of 1929, and rose above 40 percent in the depths of the Great Depression.
Federal debt exploded during World War II to over 120 percent of GDP, and then began a decline that bottomed out at 32 percent of GDP in 1974. Federal debt almost doubled in the 1980s, reaching 60 percent of GDP in 1990 and peaking at 66 percent of GDP in 1996, before declining to 56 percent in 2001. Federal debt started increasing again in the 2000s, reaching 70 percent of GDP in 2008. Then it exploded in the aftermath of the Crash of 2008, reaching 102 percent of GDP in 2011.
Federal debt has breached 100 percent of GDP twice since 1900: during World War II and in the aftermath of the Crash of 2008."
http://www.usgovernmentspending.com/f... (lots of good info and charts)
The two things that make the debt rise are wars (and their aftermath--wounded vets and interest on debt) and economic crashes.
Posted by: Coralie
February 10, 2013 at 3:14 p.m. ( permalink | suggest removal )
So from 2003 to 2008 we had TWO wars and a crash.
Please, folks, look at history.
Posted by: Coralie
February 10, 2013 at 3:15 p.m. ( permalink | suggest removal )
And right now we have a brain f--t in the white house and clowns, who couldn't clean-up behind a rodeo parade, in the congress and senate.
Posted by: Moneymyst
February 10, 2013 at 4:30 p.m. ( permalink | suggest removal )
Insults and obscenities do not constitute any kind of agument.
Posted by: Coralie
February 11, 2013 at 12:46 p.m. ( permalink | suggest removal )
RE "And right now we have a brain f--t in the white house and clowns, who couldn't clean-up behind a rodeo parade, in the congress and senate."
In the case of the former President, thee was no brain involved-- just f--t. Thank him for the ongoing spending. And the clowns have changed; now the Teabaggers are the part that needs to be shoveled up.
Posted by: AlphaCat
February 11, 2013 at 2:29 p.m. ( permalink | suggest removal )
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