Which Party's Presidents Created the Debt? Analysis from 1938 to 2004

[Donnachaidh]

http://www.addictinginfo.org/2011/04/25/which-partys-presidents-created-the-debt-anyalysis-from-1938-2004/

The chart below shows the United Stated national debt (per Microsoft’s Encarta Encyclopedia<1>) with the various Presidents’ terms marked by vertical lines. Under Clinton the growth in debt ceased, but note the radical change in direction debt has taken since George W. Bush entered office. There is no question that the steepest upward rises in debt take place when Conservative Republican Presidents are in office (see red below).




Since 1938 the Democrats have held the White house for 35 years, the Republicans for 31. Over that time the national debt has increased at an average annual rate of 8.9%. The Democratic yearly average (that is the years Democrats were in the White House) was an increase of 8.7%. The years while the Republicans ran the White House, during this same period; the debt increased an average 9.1% per year. Those averages are pretty close.

If you look at the debt starting with Truman’s term (and remove Roosevelt’s WWII debt) the difference between the two parties contributions to our national debt level change considerably. Since 1946 the Democratic Presidents increased the national debt an average of only 3.7% per year when they were in office. The Republican Presidents stay at an average increase of 9.1% per year. Over the last 57 years Republican Presidents have out borrowed Democratic Presidents by more than a two to one ratio. That is, for every dollar a Democratic President has raised the national debt in the past 57 years Republican Presidents have raised the debt by $2.47.

Prior to the Conservative take over of the Republican Party there was not much difference between the two parties debt philosophy, they both worked together to minimize it. However the debt has been on a steady incline ever since the Reagan Presidency. The only exception to the steep increase over the last 23 was during the Clinton Presidency, where he brought spending under control and the debt growth down to almost zero.

More at the link --

[bbinacan]

1. The chart stops in 2004

I'd like to see 2004 going forward. My guess is that the graph goes close to 90 degrees. Unrec.

[Donnachaidh]

2. you unrecced because the piece didn't go far enough?

Bran could solve the problem :sarcasm:

:eyes:

[bbinacan]

3. Yes,

I don't like selective data. Show the true, up to date, data.

[neverforget]

9. I reccd it for ya because I ate my Wheaties

[Curmudgeoness]

4. What I see as really scary is the steep rise. And I mean steep.

If you were to superimpose top tax rates (or rate cuts) on this chart, I would expect that the decrease in rates would coincide with the rise in debt. I will not admit this to many, but I am pretty much a fiscal conservative---just not the kind that seems to have taken over the Reps. I do not believe in using credit for lifestyle reasons, but I do believe some debt is necessary (or most of us could never own a home or car). It is apparent that this country has used debt to finance cuts in tax rates for their owners, the powers that be. I don't know how we ever bring this down, but it is obvious that we have to increase revenue to change the direction of this line. And I don't care how you increase revenue----higher top tax rates on the wealthy, or better paying jobs and full employment for the rest of us. Just do it.

[KansDem]

5. Wow!!! It exploded under Reagan and both Bushes...

The "Party of Fiscal Responsibility" indeed!

This should be the "top story" on major media outlets, instead of the lies and propaganda they're known for...

[Patriot 76]

6. Reagan/Bush quadrupled the Debt in 12 years

Ouch.

[socialist_n_TN]

7. Rachel Maddow has talked about this quite a bit........

ESPECIALLY since Reagan, Republicans (mostly because of the tax cuts for their rich buddies) ALWAYS put much more on the national credit card than Dems. But facts don't matter to the meme of "free spending, liberal Democrats".

Good luck getting the general MSM to mention anything like this. It doesn't fit the agenda of their bosses, the rich capitalists.

[Obamanaut]

8. The part of government that writes the spending bills has a big hand

in it.