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  • Presidential Debt

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    7 posts, 4 voices, 4330 views, started Jun 17, 2011

    Posted on Friday, June 17, 2011 by LaTosha Brown

    • Garnett

      Let’s talk politics. I was researching about the national debt today. The country is facing a major debt crisis and we have to address the issue.  Interestingly, I was very surprised to find out that in fact the debt increase in the last two years has been lowest increase of any past President.  The real issue is that the debt has been steadily accumulating under both Republican and Democratic presidents.

      What I found intriguing is that the largest increase  and jump in the national debt actually came under the country’s most conservative modern President.... Ronald Reagan.  What I find even more interesting is that the largest debt increases actually came under the leadership of Reagan and Bush Jr.  

      What are your thoughts about the chart below?

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        • 0 votes vote up vote up

          Msj wrote Jun 17, 2011
        • I say I have done research and found the same info. I searched the gallup polls among other sites...

          To each his own.

          I feel much like you do- based on reading your posts.

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        • 0 votes vote up vote up

          LaTosha Brown wrote Jun 17, 2011
        • @Annie my comment was that the national debt increased under Reagan.  This is true, is it not? There is no debate around that fact even among conservative economists.  However, there is debate about the causes but not the fact that it did indeed increase dramatically under his leadership. This isn’t about % per capita income.  I stated a fact about the national debt and that info is true.

           If you have concern with that source I posted there are many, many sources online that support my information.  Perhaps the best source is the CBO.  My research included data from  the Congressional Budget Office. (The actual federal entrusted institution that provides Congress with official data in constructing the budget.)  You can't get any better source than the ACTUAL office that the Senators, Reps, and President use.  

          The numbers are consistent.  Under Reagan’s leadership the country amassed the biggest increase in the national debt since World War II.  There is no debate on that.

          If we sincerely care about this issue then let’s seek to deal with the bottom line.  We have to evolve beyond partial politics in order to prove a point.  I was actually shocked by what I found.  

          I was even more confused at why conservatives don’t acknowledge the real problem of why debt is increasing in this country.  Those that know the information are purposely misleading people to believe this is a party issue.  This is an issue of poor management of the country’s resources, over consumption of Americans, wasteful war debt, broken systems, power hungry political parties and greedy corporations.

          This is not about Republicans and Democrats, yet at the same time it is ALL about them.  They both created the problem (some more than others) and they have different ideas on how to solve it.  Any other position is untrue and misleading.

           The debt has steadily risen among every President (especially the conservative ones) This is a conversation about the national debt.

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          LaTosha Brown wrote Jun 17, 2011
        • The rate of growth in Federal spending fell from 4% under Jimmy Carter to 2.5% under Ronald Reagan.[2] As a short-run strategy to reduce inflation and lower nominal interest rates, the U.S. borrowed both domestically and abroad to cover the Federal budget deficits, raising the national debt from $997 billion to $2.85 trillion.[18] This led to the U.S. moving from the world's largest international creditor to the world's largest debtor nation.[19] Reagan described the new debt as the "greatest disappointment" of his presidency.[20]  

          The excerpt above is from a book written by Lou Cannon.  He is a biographer, historian and past supporter of Reagan.

          So what does it tell us? Yes, Reagan actually cut federal spending but the debt almost tripled!  So obviously cutting social programs is not the answer to reducing the debt.  

          This current conversation to cut federal programs to decrease the national debt debate is another way for parties to distract people from a real conversation about the cause of the rising debt. And besides, attacking programs that help “those” people (poor people) is a much more effective way of rallying the right.

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          LaTosha Brown wrote Jun 17, 2011
        • @ Annie there was no issue in your reading the data differently.  I just wanted to make sure that the issue didn’t lost (that was most shocking to me) that the modern national debt problem actually was created by a conservative President Reagan.

          Like you, I have no allegiance to any political party.  I also don’t care who is driving it but it would be nice if someone would be honest about who caused it.  It certainly was not caused nor created under this President. His administration’s spending is lower than under Reagan’s administration. Yet if you didn’t know any better you would swear it was created two years ago.

          Sorry if you thought I was attacking your opinion.  My post focused on how we got here.  I do think that is very important as well.

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