Debt Ceiling over the Past 30 Years

 

 

Good image of national debt and the debt ceiling … and what parties were in control:

There is a trend here. The national debt goes up. The debt ceiling goes up. (Side note, remember all that talk about the “budget surplus” under Clinton? Not sure how somebody has a surplus while going deeper into debt.)

It really doesn’t look like any combination of Republicans and Democrats in the White House and Congress provides a budget surplus. Nor does it look like there’s any hope that these hucksters are going to pull together anything reasonable on spending control.

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3 Responses to Debt Ceiling over the Past 30 Years

  1. jessee says:

    I don’t know about a surplus, but at least during the Clinton era it looks like it was beginning to level off, rather increase exponentially.

    • nomasir says:

      Totally agree – only time we had something like a negative second derivative. I was just poking a fun hole in the fantastical and fraudulent talking point of the left. Clinton never once ran a fiscal year surplus. It was an accounting gimmick. The claim was that you could double count Social Security income as (i) revenues and (ii) monies loaned to the government and then spent again. But the government can’t loan money to itself. There is inflow and outflow and that’s it.

      • Patrick says:

        The Clinton years show the smallest increase on this graph. Did it have anything to do with the fact that he increased taxes to cover spending? It looks like the idea that cutting taxes will shrink our goverment and increase capital just aren’t true. Both Bushes and Reagan cut taxes. Spending increased and the national debt skyrocketed under their watches. If Congress wants to make a point, why don’t they lead by example? Take a pay cut and retire on social security like the rest of us.

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