Who gave us this debt? Well, both parties did, but the fault is more "R" than "D"

Discussion in 'Economy' started by Vast LWC, Mar 18, 2010.

  1. Vast LWC
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    Vast LWC <-Mohammed

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    How did we get all this debt? Let's look at the whole picture:

    Let's start in the Johnson administration, when the debt rose from $305 Billion Dollars to $350 Billion Dollars. A total increase of $45 Billion Dollars over 5+ years

    By the end of the Ford Administration the debt stood at $620 Billion Dollars. An Increase of $270 Billion Dollars over 8 Years.

    The National Debt at the end of the Carter administration stood at $907 Billion Dollars. An Increase of $287 Billion dollars over 4 years.

    During that entire period, Democrats held congress, so we'll halve the damage from the Nixon/Ford era.

    So far the Democrats caused more debt, 467 Billion Dems to 135 Billion Reps, but here's where things start to change...

    In January 1981, the House of Representatives went Republican on the wave of Reagan's popularity, and remained that way until 1987. This meant that Republicans were effectively in control of spending, having the House, the presidency and a good portion of the Senate.

    During this period, the debt rose from 907 Billion to 2.2 Trillion Dollars, an increase of 1.3 Trillion Dollars.

    For everyone keeping count, that is now 467 Billion Dems, 1.43 Trillion Reps.

    (cont.)
     
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  2. Vast LWC
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    Vast LWC <-Mohammed

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    (cont.)

    From Jan 1987 to Jan 1993, Republicans held the presidency and the Democrats held congress.

    During that period, the debt rose from 2.2 Trillion to 4.1 Trillion. An increase of 1.9 Trillion Dollars.

    Again, as the branches were split, we'll split the blame evenly. Bringing the totals up to:

    Dems: 1.42 Trillion, Reps: 2.39 Trillion

    Now we reach the Clinton Era.

    From Jan 1993 to Jan 1995 the debt increased from 4.1 Trillion to 4.7 Trillion. For a total increase of 600 Billion dollars.

    During this period Democrats were in control of both branches, so:

    Dems: 2.02 Trillion, Reps: 2.39 Trillion

    In January of 1995, Republicans took control of both houses of congress. From Jan 1995 to Jan 2001, The president was Democratic and Congress Republican, so again we split the difference. During this period, the Debt rose from 4.7 Trillion to 5.7 Trillion, an increase of 1 Trillion Dollars.

    Dems: 2.5 Trillion, Reps: 2.89 Trillion

    Now, in Jan 2001, President Bush took office. From Jan 2001 to Jan 2007, except for a brief tie in the senate (with a republican tie-breaker as VP), the Republicans held both houses of Congress.

    During this period, the debt rose from 5.7 Trillion to 9 Trillion. An Increase of 3.3 Trillion Dollars.

    Dems: 2.5 Trillion, Reps: 6.2 Trillion Dollars

    From Jan 2007 to Jan 2009, the Democrats controlled Congress, and George W Bush was president, so, again, we split the difference. During that period, the debt rose from 9 Trillion to 11.2 Trillion. A difference of 2.2 Trillion dollars.

    Dems: 3.6 Trillion, Reps: 7.3 Trillion

    Which brings us to 2010, where congress and the presidency are both controlled by Democrats.

    In the past year the debt has risen to 12.6 Trillion dollars, for an increase of 1.4 Trillion dollars.

    Thus the totals are:


    Dems: 5 Trillion Dollars, Reps: 7.3 Trillion dollars


    Sources:
    Composition of Congress, by Political Party
    National Debt Clock - Defeat the Debt
    Treasury Direct National Debt History
     
    Last edited: Mar 18, 2010
  3. Vast LWC
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    Vast LWC <-Mohammed

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    It has been argued that the year 2001 should go to Clinton and 2009 to Bush, as per the acounuting of fiscal years.

    If you count it like that:

    The Dems gain 200 Billion from 2001, and the Reps gain 1.4 Trillion from 2009.

    Leaving:

    Dems: 3.8 Trillion, Reps: 8.5 Trillion
     
  4. Truthmatters
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    Funny the so called fiscal party has a much worse fiscal record in fact.
     
  5. Vast LWC
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    Vast LWC <-Mohammed

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    I think this is about as fair an assessment you can make too, without getting a bevy of economist to come in and assign blame to each individual expenditure.
     
  6. Truthmatters
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    I have never understood how the Rs get away with the lies about being the fiscal party.
     
  7. tigerbob
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    tigerbob Increasingly jaded.

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    I'm sure the posters who spend all their time looking backward for someone to blame will find that fascinating.

    Kudos on the research, though.
     
  8. Truthmatters
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    Truthmatters BANNED

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    looking behind?

    See how they HATE facts and history because it proves how insane it is to believe in the republican false line.
     
  9. Vast LWC
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    Vast LWC <-Mohammed

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    Thanks for the Kudos.

    I feel if we do not learn from history, we are bound to repeat it.

    The new stock of politicians are making the same promises they made all along and didn't keep. So somebody has to keep tabs on what they've done (or barring that, what the party they're affiliated with has done) in the past.
     
  10. tigerbob
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    tigerbob Increasingly jaded.

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    Ah, if we're talking about learning from it, then I agree with you completely.

    But so long as politicians are more preoccupied with gaining or holding onto power than they are about simply solving problems, I fear we are doomed to make the same mistakes in generation after generation.
     

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