it’s the economy, stupid: the national debt

debt.jpg

The national debt peaked at 120% of GDP in 1946 due
to the war effort, but Roosevelt, Truman, Ike,
Kennedy, LBJ, Nixon and Carter all did their part to
bring the national debt back to pre-war levels. By
the beginning of 1981, the national debt had fallen to
32.5% of GrossDomesticProduct.
 

Clinton turned around the debt growth in just three years and
then reduced the debt from 67% to 57% in his last five
years, resulting in the well-known and large budget surplus–

Bush wasted no time in reversing this trend

Click on above description to see graph of GDP compared to debt….

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