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UNITED STATES DEBT AS A PERCENTAGE OF GDP [1940 - 2012 EST)
WHO IN WASHINGTON IS RESPONSIBLE FOR THE U.S. DEBT???
With all the talk lately about the debt ceiling, we wanted to take a look at how we got here. While political parties play the blame game, the facts paint a more complicated picture. The data shows that both parties have presided over huge increases and decreases in our national debt, and that events like World War 2 and periods of recession have often been far more important than party ideology.
Measuring U.S. debt in numbers that haven’t been adjusted for inflation produces an alarming and somewhat misleading result.
Measuring U.S. debt as a percentage of GDP gives us a much better idea of who our biggest borrowers have been.
.05 in 1940 ($ trillions) -- 16.3 in 2012
Party in control of U.S. Presidency
Party in control of U.S. Senate
Party in control of U.S. House of Representatives
REPUBLICAN CONTROLLED PRESIDENCY
REPUBLICAN CONTROLLED CONGRESS
52.4% (in 1940) 121.7% (in 1946) 32.5% (in 1981) 100.8% (in 2012 (est))
-3% (in 1940) -30.3% (in 1943) 4.6% (in 1948) -7% (in 2012 [est])
YEAR 19/ 40 42 44 45 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 82 84 85 88 90 92 94 96 98 20/00 02 04 06 08 10
BUDGET SURPLUSES & DEFICITS AS A PERCENTAGE OF GDP
Some presidents are better at balancing budgets than others. Despite labels such as fiscal conservative or big government liberal, the data shows that the ability or inability to balance budgets is truly bi-partisan.
Rooservet Truman Eisnhower Kennedy Johnson Nixon Ford Carter Reagan Bush ‘41 Clinton Bush'43 Obama
HOW THE RATIO OF US DEBT COMPARES TO OTHER COUNTRIES. — The range is enormous due to emerging third world markets and wild swings created by the economic collapse. (Public Debt/GOP)
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