2009-03-16 ACW Knowledge Is Power Series: National Debt

2009-03-16 A Candid World/didionsmommy A Candid World \US national debt\Karl Rove\2009-03-13 Karl Rove's funny numbers\2009-03-12 The White House Misfires on Limbaugh http://www.acandidworld.net/2009/03/16/acw-knowledge-is-power-series-national-debt/ ACW “Knowledge Is Power Series”: National Debt ACW Knowledge Is Power Series: National Debt  Beyond confirming Leonard's point that Rove is way off base with his magical reinvention of W.’s contribution to the national debt, the chart shows, unequivocally, the largest growth of the national debt occured under Ronald Reagan and George W. Bush. During Reagan’s eight years in office, the national debt (adjusted for inflation) doubled. Under “the decider,” the national debt increased 56% (adjusted for inflation). ''[ Republicans ought to insist on adjusted figures. Looking at nominal changes, Reagan nearly tripled ($9.3 Bn vs. $2.6 Tn) and W. nearly doubled ($5.7 Tn vs. $10.6 Tn) the national debt. ]''

Interestingly, national-debt growth was relatively flat during the Kennedy/Johnson, Johnson, Nixon, Nixon/Ford, and Carter administrations, a period ecompassing the Vietnam War, the Great Society, recession, inflation, deflation, and an energy crisis.

Enter trickle-down ideology and what do we see? Gratuitous expansion of the national debt. Remember when George H.W. Bush called Republican-party candidate Ronald Reagan’s supply-side economic platform “voodoo economics”? Well, Poppy Bush actually put the brakes on Reagan’s immense deficit spending. Looking at the 12 years of Reagan’s and Bush, Sr.’s terms, the national debt increased by about 76%, which includes eight years of doubling under Reagan and a 26% increase under Bush, Sr.

&ldquo;Beyond confirming Leonard's point that Rove is way off base with his magical reinvention of W.’s contribution to the national debt, the chart shows, unequivocally, the largest growth of the national debt occured under Ronald Reagan and George W. Bush.&rdquo;   