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| Re: US National Debt passes $12 trillion (525728) | |||
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Re: US National Debt passes $12 trillion |
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Posted by Stephen Bauman on Wed Nov 18 10:49:37 2009, in response to Re: US National Debt passes $12 trillion, posted by Spider-Pig on Wed Nov 18 10:12:02 2009. And before that they had control of Congress for 26 years, during which time the debt fell.Careful. The debt as a percentage of GDP fell. The US ran a deficit just about every year since the end of WWII. The only notable exception was the last couple of years of the Clinton Administration, when not only did the govt run a cash-on-cash surplus but it also ran a real surplus with trust funds like Social Security included. To be sure, the deficits were less than the inflation rate until 1981. So, a chart of the debt in real dollars was relatively constant between 1950 and 1980. |
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