- Banned
- #21
Uh...I suggest you review the components of that debt - starting with aspects started during the FDR era which are snowballing today.
The National debt at the end of the Carter presidency was 900 billion dollars. This had been building since the Johnson presidency.
The National Debt at the end of the Reagan/Bush years was 4 Trillion Dollars.
The debt at the end of the Clinton years was 5.6 Trillion dollars (1.2 Trillion of which was caused by interest on the pre-existing debt)
The debt at the end of W's reign was 11.6 Trillion dollars.
Which means that in the last 30 years the debt increased by .6 Trillion dollars under Democrats, and 10 Trillion dollars under Republicans.
In addition, as I mentioned, one must consider inflation-adjustment when comparing to current figures.
The 3 trillion dollar increase in the debt during Reagan/Bush would now be equal to 6 Trillion dollars.
As for what makes up the debt, the huge amount of military spending we do every year is probably the major culprit. If we spent like a NORMAL country on military expenditures, or even just at a level that slightly edged out our nearest competitor, we'd probably have no debt whatsoever right now.
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