Who IS this guy?!

'Niceguy' Eddie

Political Talk Show Host and Internet Radio Personality. My show, In My Humble Opinion, aired on RainbowRadio from 2015-2017.

Feel free to contact me at niceguy9418@usa.com. You can also friend me on Facebook, follow me on Twitter, and Tumblr, and support my Patreon. Also, if you don't mind the stench, you can find my unofficial "fan club" over HERE. ;)

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Monday, February 1, 2010

So... Who's REALLY responsible for all our debt?

I'd like to take one more look at the Federal Deficit and the National Debt, before going back to health care for a few posts.  I made up the follow Pie-Chart, to show which administration's contributed the most to the National Debt.  I'll explain some of my assumptions, and methodology, and then I'd like to note a few bits of information that I took away from it.

This is through the projected end to FY2010, and is in 2010 dollars. The first point that might need explaining is "FDR." Since the National Debt did not appreciably change between WWII and 1982, and as a concession to our conservtaive friends, I attributed all of the debt accumulated prior to Ronald Reagen to Franklin Roosevelt. I could just as well have said Harry Truman, or anyone else really, since this was where every President since Roosevelt decided to leave the National Debt, so whatever... We'll just call it "FDR."

So, as to my methodology... I got the overall National Debt, by year, from the Treasury Department's Website. For each year, I adjusted for inflation using E.T.'s Inflation Chart. THAT only went to 2008, so I assumed 3% inflation for 2009 and adjusted all the numbers accordingly. So, taking the overall debt in 1981 and calling it "FDR" I looked at the change from year to year and calculated the deficit or surplus (in 2010 dollars.) So the combined deficits from 1982 to 1989 were attributed to President Reagan, 1990 to 1993 to the first President Bush... you get the idea... to determine what each Administation was responsible for since Reagan took office. (And remember, since the debt level in 1981 was within 2.2% of what it was in 1947, there's no point in talking about anyone in the intervening years. Hence I've lumped it ALL into "FDR." (And then I added in, the recently projected $1.6T deficit that is being projected for Obama in 2010.)

Now... right off the bat, I'll give the newly minted Deficit Hawks on the Right one point: It is a bit disconcerting that President Obama managed to accout for 11% of of the overall nation debt in just one year. I think it's celar to EVERYONE, not the least of whom is President Obama, that we cannot continue on THAT path. But consider this:

A full 66.6% of our current National Debt is attributable to Ronald Wilson Reagan, George Herbert Walker Bush, and George Walker Bush. Bill Clinton accounts for a scant 4%, and even with Obama's record-breaking deficit, all Democratic contribution COMBINED account for only a third of the overall debt.
Now... to anyone who points out that the Republicans had the presidency for 20 of the 28 year prior to 2009, all I have to say is this: That only means they had more opportunities to try and FIX the problem! Bill Clinton did more in 8 years to address the budget deficit and the National Debt than the Republicans did in 28!

And the only reason I find that amusing is that all the Deficit Hakws these days seem to come from RIGHT! As I've said before, if your concerned about the deficit, whatever you do: DON'T VOTE REPUBLICAN!

2 comments:

  1. Where in the Constitution does it say Presidents allocate money? Presidents spend the money congress (power of Purse) allocates

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