Who Really Spent Our Money and When
Dear editor:
If you listen to right wing radio and TV commentators, you keep hearing how Democrats both past and present spend, spend, spend and are putting our country into a dangerous position due to their propensity for increasing America’s national debt. In addition we keep hearing great adulation of President Ronald Reagan, who was obviously the original great fiscal conservative as well as the “great communicator,” and is the father of modern Republicanism. While some of this might be true, most of it is an absolute myth spread by the likes of House Minority Leader John Boehner, Sarah Palin, John McCain, Rush Limbaugh, Ann Coulter and Sean Hannity.
If some of these “experts” on our nation’s economy would bother to check their facts, as published (and so easy to find online) by the United States Government, they would find out the truth. For instance:
1)National Debt, as a percentage of Gross Domestic Product (GDP) since the end of the Second World War, shows that all Democratic Presidents (Truman, Kennedy/Johnson, Carter and Clinton) reduced this important key number by 23.9%, 13.5%, 2.8% and 6.8% (in the same order.) With the exception of Eisenhower who also reduced this number by 18.3%, all Republican Presidents (Nixon/Ford, Reagan, G.H.W. Bush and G.W. Bush have greatly increased our debt by 6.3%, 18.5%, 12.2% and 11.9% (again in the same order.)
2)Reagan, who is worshipped for his economic accomplishments and reduction in government, not only had the biggest increase at 18.5%, with a similar increase in the size of government, but also saw the national debt rise during his term in office by over 260%.
3)At the end of George W. Bush’s eight years in office the national debt stood at $10,024,724,896,912. Of this total $7,507,466,342 happened during the terms in office of three Republicans, Reagan, Bush I and Bush II. That means that 75% of our outlandish national debt happened as a direct result of these three presidents.
And they talk about Democrats being “out of control spenders?”
It’s about time people faced the facts and learned the truth in politics. This does not in any way suggest that it is OK for us to continue in our free spending ways leading to bankruptcy, but rather puts the truth in our hands and should make us demand that Republicans and their commentators try to work with the administration instead of just being blame laying “NO” people.
If you listen to right wing radio and TV commentators, you keep hearing how Democrats both past and present spend, spend, spend and are putting our country into a dangerous position due to their propensity for increasing America’s national debt. In addition we keep hearing great adulation of President Ronald Reagan, who was obviously the original great fiscal conservative as well as the “great communicator,” and is the father of modern Republicanism. While some of this might be true, most of it is an absolute myth spread by the likes of House Minority Leader John Boehner, Sarah Palin, John McCain, Rush Limbaugh, Ann Coulter and Sean Hannity.
If some of these “experts” on our nation’s economy would bother to check their facts, as published (and so easy to find online) by the United States Government, they would find out the truth. For instance:
1)National Debt, as a percentage of Gross Domestic Product (GDP) since the end of the Second World War, shows that all Democratic Presidents (Truman, Kennedy/Johnson, Carter and Clinton) reduced this important key number by 23.9%, 13.5%, 2.8% and 6.8% (in the same order.) With the exception of Eisenhower who also reduced this number by 18.3%, all Republican Presidents (Nixon/Ford, Reagan, G.H.W. Bush and G.W. Bush have greatly increased our debt by 6.3%, 18.5%, 12.2% and 11.9% (again in the same order.)
2)Reagan, who is worshipped for his economic accomplishments and reduction in government, not only had the biggest increase at 18.5%, with a similar increase in the size of government, but also saw the national debt rise during his term in office by over 260%.
3)At the end of George W. Bush’s eight years in office the national debt stood at $10,024,724,896,912. Of this total $7,507,466,342 happened during the terms in office of three Republicans, Reagan, Bush I and Bush II. That means that 75% of our outlandish national debt happened as a direct result of these three presidents.
And they talk about Democrats being “out of control spenders?”
It’s about time people faced the facts and learned the truth in politics. This does not in any way suggest that it is OK for us to continue in our free spending ways leading to bankruptcy, but rather puts the truth in our hands and should make us demand that Republicans and their commentators try to work with the administration instead of just being blame laying “NO” people.
posted by Sam Schoolsky | 6:10 PM
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