Please note this chart shows our dbt as a percentage of our gross domestic product. Why is this important? For one, a larger debt could be healthy in the short time when the nation is prospering and investing in infrastructure (which means jobs). More importantly, this measure is inflation proof. Notice that our public debt was about 10 percentage points higher during the New Deal, when America literally pulled herself up out of a Great Depression by her boot straps, in the early 1930s until World Ward 2, than what Ronald Reagan inherited.
Reagan obviously marks the dawn of a new era, one of living high on the hog, on borrowed money. Clinton managed to reverse the tide, temporarily, but as we know too well, the Bush family is quite happy to see the trend continue.
Tax and spend Republicans, desperate for a war on Iran. It’s like watching a really bad movie who’s saving grace was its special effects – and then being expected to pay for them.