Tax & Spend Liberals vs Fiscal Conservatives

One thing omitted from this cartoon: Jimmy Carter also reduced the debt (altho he never balanced his budgets).

They've mortgaged the USA to China and still won't stop spending my kid's grandchildren's money.

When Bush leaves office in five months, our federal debt will be 68% of the whole US economy. It was 71% when Truman left office in 1953.

The ratio of debt over GDP went down under every president from Truman to Carter, who, despite an oil crisis, an inflation crisis, and an arms build up starting in FY1980 (the 1979 budget), got the debt to GDP ratio down to 32%.

Then Reagan came in and he shot the debt rate up to 53%. Then Poppy Bush shot the debt ratio up to 66%. Bill Clinton was able to bring it down to 57% in his eight years. But then the chimps took over the zoo. In his first term, Dubya brought the debt-GDP ratio up to 64%; this year's budget will get it to 68%. The main cause of this upward spiral is the expensive weapons systems needed for protecting us from as-yet-unidentified foreign threats plus support services for the needless occupation of Iraq.

National Debt History
by President
White House Data on
Gross National Debt



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