Friday, September 16, 2005

United States National Debt

United States National Debt (1938 to Present)
An Analysis of the Presidents Who Are Responsible For Excessive Spending

By Steve McGourty
(Updated 9 April 2005)

Since 1938 the Democrats have held the White house for 35 years, the Republicans for 33. Over that time the national debt has increased at an average annual rate of 8.7%. The Democratic yearly average (that is the years Democrats were in the White House) was an increase of 8.3%. The years while the Republicans ran the White House, during this same period; the debt increased an average 9.3% per year. Those averages are pretty close.

If you look at the debt starting with Truman’s term (and remove Roosevelt’s WWII debt) the difference between the two parties contributions to our national debt level change considerably. Since 1946 the Democratic Presidents increased the national debt an average of only 3.7% per year when they were in office. The Republican Presidents stay at an average increase of 9.3% per year. Over the last 59 years Republican Presidents have out borrowed Democratic Presidents by almost a three to one ratio. That is, for every dollar a Democratic President has raised the national debt in the past 59 years Republican Presidents have raised the debt by $2.87.

Prior to the Neo-Conservative take over of the Republican Party there was not much difference between the two parties debt philosophy, they both worked together to minimize it. However the debt has been on a steady incline ever since the Reagan Presidency. The only exception to the steep increase over the last 25 was during the Clinton Presidency, where he brought spending under control and the debt growth down to almost zero.

Comparing the borrowing habits of the two parties since 1981, when the Neo-Conservative movement really took hold, it is extremely obvious that the big spenders in Washington are Republican Presidents. Looking at the only Democratic President since 1981, Clinton, who raised the national debt an average of 4.3% per year; the Republican Presidents (Reagan, Bush, and Bush) raised the debt an average of 10.8% per year. That is, for every dollar a Democratic President has raised the national debt in the past 25 years Republican Presidents have raised the debt by $2.59. Any way you look at it Conservative Republican Presidents can not control government spending, yet as the graph above clearly shows, Clinton did."

(Read complete article.)

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