Friday, July 29, 2011

fiscal responsibility in the U.S.

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A 2005 essay from The Century Foundation includes:

... Every Democratic president (Kennedy-Johnson, Carter, and Clinton) left office with the ratio of national debt to income below where it was at the beginning of his administration, while the last three Republican administrations (Reagan, George H.W. Bush, and George W. Bush) have presided over explosive growth of the national debt relative to national income. Since 1960, Republican administrations have added 38 percentage points to the national debt/GDP ratio, while Democratic administrations have subtracted 23 percentage points from that ratio. This record stands on its head all the clich├ęs about who is fiscally responsible.
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3 comments:

  1. National debt isn't just a threat to future generations. It's a fat annual interest payment to the banks. The republicans are very organized and well financed by the oligarchy. They feed the hand that bites us.

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  2. Sumsu-iluna son of HammurabiJuly 29, 2011 at 2:30 PM

    Dad was right.

    When the hand offends the country... it's time to cut it off!

    Dadanum! Quickly! Get my ax!

    Hunzuu. Convene the generals. It is time to make plans for war against the republicans!

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  3. There's a next life after this one, where karmic consequence begins, as night will follow day, a light will show the way. If one has eyes to see to rise above delusion, have to say.

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