The National Debt Road Trip
How do the Obama deficits compare with past presidents? And how did the national debt get so big anyway. This video tries to answer those questions by looking at the debt as a road trip and seeing how fast different administrations have been traveling.
Historical debt data: http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm
Inflation data: http://www.westegg.com/inflation/
Future debt data (2010 – 2016): http://www.whitehouse.gov/omb/assets/fy2010_new_era/Summary_Tables2.pdf
For more, follow my Twitter account at PoliticalMath or visit my blog at politicalmath.wordpress.com
Duration : 0:2:47
25 Comments to The National Debt Road Trip
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Yes. Excellent …
Yes. Excellent point. The RepubliCons like to forget that US unemployment was 7.2% when corrupt Hollywood airhead Ronald Reagan took office and that unemployment soared to 10.8% after two years of Trickle Down Reaganomics. Fortunately, the Federal Reserve got inflation under control and the economy bottomed. Even then, job growth under Reagan was anemic compared to Clinton and LBJ.
Furthermore, …
Furthermore, private debt is what caused the financial disaster we’re in. Not public debt.
The 48 trillion private, individual and business debt, you cons cheer on as “free market capitalism”. But it has far greater consequences than out far lesser public debt.
“Ronald Reagan proved that deficits don’t matter”
-Dick Cheney 2002
Correct! Reagan …
Correct! Reagan didn’t have serious positive job growth until well into his 2nd term.
Yet the cons worship him as an economic messiah!
It’s interesting …
It’s interesting that only you RepubliCons refer to Obama as “the Messiah” or as “the Anointed One”. The rest of us just call him our president. We don’t think he’s infallible but we know that he’s far superior to corrupt Neocon charlatans like Reagan Bush Bush.
The RepubliCons are …
The RepubliCons are terrified that people with discover the truth about Ronald Reagan. RepubliCons have spent millions of dollars and the last twenty years trying to spin Reagan as some kinda saint rather than the corrupt Hollywood airhead that Reagan actually was.
Most of our current problems with terrorism are the result of Reagan’s idiotic policy of Arming Islamic extremists and coddling murderous dictators.
AtlasShruggery your …
AtlasShruggery your reply like most of your remarks is entirely off the mark. Nowhere in my reply did I refer to Obama as either the Messiah, of the Anointed one. Only as a person who thinks he is smarter than everyone, and I mean everyone
else.
I am nothing like a Repuplicon (whatever that is).
I’ve voted in every Presidential election since JFK, and only twice for the Republican candidate. And neither Reagan, or the two Bushes were amongst them.
So direct your remarks to people you know.
Interesting. While …
Interesting. While I think you’re entirely wrong about Obama at least you didn’t fall for the idiocy of Reagan-Bush-Bush.
I’m guessing you voted Republican in 1972 and 2008. Maybe Perot in 1992.
Nope voted for Ford …
Nope voted for Ford in 76, and did not vote for Perot.
But we do agree in a manner, I think you are entirely wrong about Obama too.
And I did vote Republican in 2008.
Hey, .333 is not a …
Hey, .333 is not a bad batting average. I figured you were still sore because Bungler McCain and his idiotic sidekick Sarah Palin got thumped.
Hey Atlas. Ray …
Hey Atlas. Ray Davies is touring the country right now. He may be coming to your area. Bruce Bartlett was one of the architects of supply side economics. Senior fellow at Heritage, Cato etc. He has genuine conservative credentials. I don’t agree with all his views but he’s pretty straightforward and honest. Search: “Bartlett GOP’s Misplaced Rage”. I think you’ll like it. Also search:” Bartlett We Can’t Cut Spending”. Anyone who thinks we can solve things by cutting spending is living a fantasy.
Thanks again for …
Thanks again for the tips.
I’m glad to hear that there is finally some intellectual honesty comng from the Right after 30 years of Trickle Down Reaganomics and disingenuously dissing Keynes.
Yes, cutting spending would be a huge mistake. Much like 1936. Another stimulus with an emphasis on spending for infrastructure would be a good move right about now.
Just FYI, I find Paul Craig Roberts & Kevin Phillips to be honest, genuine conservatives who never drank the Bush Cult Koolaid.
The difference is …
The difference is that Obama is spending like that to escape an unbelievable recession, you need that spending to kick-start growth again. I have my concerns as well, but I think Obama is being way more responsible than Bush Jr ever was.
the idea of …
the idea of spending to get out of a recession is a horrible idea and doesn’t work.
If you want to kick start growth again give bonus to small business.
Also how can you say Obama is being more responsible if he is tripling the amount of debt that GW did.
Also as we have seen the 900 billion stimulus bill has failed miserably. It has not helped the economy at all and there is talk of adding a second stimulus bill.
agreed.
agreed.
It’s always worked. …
It’s always worked. Even Reagan did it!
LMFAO! The stimulus has succeeded. Conservative economic policies left us with -6.4% GDP. Immediately after the stimulus passed it recovered to -.7, now we are at +3.5% and growing.
Try facts next time, con. Not BS you heard on Glenn Beck
either you didn’t …
either you didn’t bother to listen, or you choose to ignore the fact that he states at the beginning the numbers are adjusted for inflation.
so to disagree on this you would have to prove whether or not they were.
since we don’t know what the inflation rate may or may not be can only be made on the statements that the current president has made or made in his behalf by the administration.
try to argue facts not your opinion
@AtlasShruggery …
@AtlasShruggery Please listen to the video where he says numbers are adjusted for inflation.
And you can also pay attention to how much of this debt came in a Democratic Congress…
Or you keep spitting on the names of people you disagree with. Tough choice for you I know.
Funny how you …
Funny how you RepubliCons always want to take credit for tax cuts but blame all spending on Dems.
Exactly how many balanced budgets did yer boys Reagan, Bush and Junior Bush present to Congress in their 20 years in office?
Hmmm. So we’re …
Hmmm. So we’re comparing historical data to budget projections. Yer boy Junior Bush projected a $5 trillion surplus when he took office. How’d that work out?
Checking your math, …
Checking your math, I’m showing that adjusted for inflation, the Reagan deficits equate to about $4.2 trillion. Do you agree?
Also, just for the record, Dems did not control Congress under Reagan until 1983.
Here’s one of my favorite quotes from that Great American Patriot, Draft dodgin’ Dick Cheney:
“Reagan taught us that deficits don’t matter.” – Dick Cheney June 5, 2004
Hey Atlas. They are …
Hey Atlas. They are living in denial. What you’re saying is so EASILY demonstrated. Just search: “graph national debt” and a dozen graphs show the exact same thing- Reagan spent like a drunken sailor and put it all on credit. Bruce Bartlett was an architect of Reganomics and a top policy advisor in the Reagan administration. The title of his new book (published last month) says it all: “The Failure of Reaganomics and a New Way Forward”. Read Bruce Bartlett’s articles at Forbes online.
It’s difficult to …
It’s difficult to compare what will be to actuals, but if your fearless leader who is so obviously right about everything (according to him) and has such
GREAT judgement why shouldn’t we believe his projections ? You believe all the other BS he is feeding you.
Also don’t forget …
Also don’t forget that Reagan didn’t have positive job creation until 16 months after he began.
But now the cons whine and jump up and down about Obama after 9 months.
Hey kinksfan1, …
Hey kinksfan1, Thanks for the support. The video had the distinct aroma of Faux News anti Obama propaganda.
I’ll definitely check out Bartlett’s book. Thanks for the tip. It’s good to see that even some of the Reaganauts are willing to admit that Trickle Down Reaganomics is a failure. Certainly, that’s the conclusion of most nonpartisan economists
Also, gotta love The Kinks, eh?
The only problem …
The only problem with that is that you don’t end a recession by cutting spending. Govt spending cuts would further shrink the economy. Even Reagan used debt spending to end a recession.
The problem with this video is that it assumes the current level of spending will continue for 8 years. When in fact, we won’t have a stimulus package every year. It’s incredibly dishonest.
It also ignores the fact that the real problem is 48 trillion individual and business debt.