Wednesday, September 3, 2008

"Hi, I'm Mitt Romney and I got Punk'd by McCain into thinking that I actually had a shot at being named VP"

My favorite part of his speech was when he blamed liberals for ballooning the US Public Debt. Let's go to the facts shall we!

End of
Fiscal Year
US Public Debt
USD billions[19]
% of GDP[21]
1910 2.6
1920 25.9
1930 16.2
1940 43.0 44.2
1950 257.4 80.2
1960 290.2 45.7
1970 389.2 28.0
1980 930.2 26.1
1990 3233 42.0
2000 5674 35.1
2005 7933 37.4
2007 9008 36.8

So let's examine life since 1980. A large portion of that was under Reagan where the debt rose from $930.2bn to $3,233bn. I'm not saying it was good or bad, I'm just saying that's the fact. We can have discussions on the need for defense spending and the role that played in ending the Cold War but again, facts are the fact.

Meanwhile let's goto 2000, Bush II takes control and the debt balloons from $5,674bn to $9,008bn.

Now we don't need to back out the effect of inflation to see that a large amount of our deficit was done amidst the control of those who generated fear of external threats...

1 comment:

ZenDenizen said...

You've been awarded the Brilliant Blog Award!