National Debt Thread

Discussion in 'Economy' started by Max Power, Oct 17, 2005.

  1. Max Power
    Online

    Max Power Guest

    Ratings:
    +0
  2. Annie
    Offline

    Annie Diamond Member

    Joined:
    Nov 22, 2003
    Messages:
    50,847
    Thanks Received:
    4,644
    Trophy Points:
    1,790
    Ratings:
    +4,770
    So Bush, after the economic bullet of 9/11, then waging war since, has a project defict about equal with Clinton's high? Wow! Staggering. :sleep:
     
  3. Annie
    Offline

    Annie Diamond Member

    Joined:
    Nov 22, 2003
    Messages:
    50,847
    Thanks Received:
    4,644
    Trophy Points:
    1,790
    Ratings:
    +4,770
    Let's hope this comes to pass. Links at site:

    http://www.captainsquartersblog.com/mt/archives/005621.php
     
  4. Max Power
    Online

    Max Power Guest

    Ratings:
    +0
    Umm, no.

    Do you know the difference between a deficit and a debt?
     
  5. Max Power
    Online

    Max Power Guest

    Ratings:
    +0
    That might as well be an Onion article.

    IMO, the only real way to cut spending is to set up a partisan deadlock, like we enjoyed from 1994-2000.
     
  6. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,767
    Thanks Received:
    11,056
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,102
    What's staggering is that in every war the US fought that I am aware of, taxes went up to pay at least partly for the war. In this war, taxes have fallen, and far more than were needed to stimulate the economy.

    Bush is hardly a conservative. Discretionary, non-defense spending has risen faster than it ever did under Slick Willie and the man has never vetoed a single bill.
     
  7. Annie
    Offline

    Annie Diamond Member

    Joined:
    Nov 22, 2003
    Messages:
    50,847
    Thanks Received:
    4,644
    Trophy Points:
    1,790
    Ratings:
    +4,770
    Wrong. There comes times when it is good to have a party in power and opposition braying loudly enough to keep the public informed. It's true for whichever party we are speaking of, there has been too much deadlock for too long. However, this administration has blown it and perhaps the opposition party will become the majority eventually because of it.

    BTW, rather than raise my post count, go ahead and give your economics lesson on your chart.
     
  8. Max Power
    Online

    Max Power Guest

    Ratings:
    +0
    Well, the deficit is simply the money spent by the government less the income.

    The debt is how much money is owed by the government... so if you add up all of our deficits and surpluses (and factor in interest), you will get the debt.

    The chart shows the debt as a percentage of GDP.
    Basically, every president after WW2 except Reagan, Bush, and Bush, decreased the debt.
     
  9. Annie
    Offline

    Annie Diamond Member

    Joined:
    Nov 22, 2003
    Messages:
    50,847
    Thanks Received:
    4,644
    Trophy Points:
    1,790
    Ratings:
    +4,770
    Can you have deficits and surpluses? I mean concurrently? :dunno:

    Comparing 1950's-1960's to 1970's-2000's just doesn't make sense to me-but econ was not my strong suit. Just seems the post war economic engine, with the blip caused by rehiring/retooling, made growth inevitable. :dunno:

    Now, Carter dealt with the gas problem from OPEC, as well as the malaise brought on by his handling of domestic and foreign affairs-so I guess his military cuts really were big. Again, :dunno:

    I'm not sure if I'm looking at the right points, so I'll wait and see what you have to say.
     
  10. Max Power
    Online

    Max Power Guest

    Ratings:
    +0
    You can't have deficits and surpluses concurrently. A surplus of $1 is equivalent to a deficit of $-1 and the other way around.
    Of course, even if we run a surplus (as we did a few years ago), this doesn't necessarily mean the debt goes down, because there is interest charged on the debt. So, it IS possible to have a surplus AND become deeper in debt.

    Now back to the graph.
    It's as a percentage of GDP.
    This is a fair comparison, because owing $10,000 if you make $15,000 per year is worse than owing $20,000 if you make $200,000.

    So, for example, during the Clinton years, the national debt increased... but the GDP increased by (significantly) more.
     

Share This Page