[PLUG-TALK] Scorecard on federal spending

[Paul Heinlein]

I recently overheard a self-professed political conservative go on a 
mini-rant about Democrats and irresponsible spending. I tend to side 
with those who think deficit spending shouldn't be business as usual, 
but I thought this particular rant sounded a bit shrill.

So this article from the Washington Independent caught my eye:

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Just so history isn’t rewritten during the current outcry over deficit 
spending, here’s a recap of the national debt during the reign of the 
last five presidents. (All numbers come from the Treasury Department, 
here and here.)

When Ronald Reagan was elected in 1980, the federal debt was just 
under $908 million. Eight years and several tax cuts later, it was 
$2.6 trillion. Difference: +186%.

Taking the $2.6 trillion debt he inherited, George H.W. Bush took us 
up to $4.1 trillion in 1992. Difference: +58%.

In eight years under Bill Clinton, the debt jumped from $4.1 trillion 
to $5.7 trillion. Difference: +39%.

Under George W. Bush, that $5.7 trillion in 2000 grew to more than $10 
trillion in 2008. Difference: 75%.

Last year, under Barack Obama’s reign (but not his budget), the figure 
went from $10 trillion to $11.9 trillion. Difference: 19%.

Which begs two questions: (1) Why do Republicans consider themselves 
the more fiscally responsible party? And (2) how did Reagan become the 
poster child of conservative budget policy?
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Source: http://washingtonindependent.com/75084/a-scorecard-on-federal-spending

-- 
Paul Heinlein <> heinlein at madboa.com <> http://www.madboa.com/