Interesting fact: From 1790 to 1913 (the same year Americans were first taxed) the dollar was gold based and had near zero inflation. In 1790 the US debt was $75 million (equal to about $4.8 billion today) and by the end of the Civil War it climbed to $2.7 Billion (about $175 billion today). Since 1941 The US has only once had a decrease in national Debt, $8 billion under Democrats. As an Increase of debt/GDP Democrats have had a 9.8% increase vs a republican increase of 42.4%. Under Democratic Presidents since the end of WWII the US Debt climbed $7,846 billion compared to $9,766 billion. Policies that impacted the $2 trillion dollar Swing can be attributed as follows: -Recessions or the business cycle (37%); -Policies enacted by President Bush (33%); -Policies enacted by President Bush and supported or extended by -President Obama (20%); and -New policies from President Obama (10%). Henry Ford said that, A man should not be measured by his intentions but by his actions.... guess the same can be true of political parties!!!!!
Posted on: Mon, 21 Apr 2014 21:01:01 +0000
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