Friday, May 20, 2005
RUNAWAY NATIONAL DEBT
This chart shows the National Debt, adjusted for inflation, since the start of WWII. What is remarkable about this chart is how stable our debt remained throughout the 50's, 60's and 70's. This in spite of the Korean and Viet Nam wars
Then came Reagan, Bush I, and Voodoo economics! In a decade and a half, the national debt triples, after remaining stable for three decades. Notice the brief downward blip that was the Clinton presidency, then comes King George II and the debt skyrocketing faster than ever.
Understand that eventually, this money must be payed back. The majority of this debt is owed to Social Security, insurance companies. private pension plans, public pension plans, state governments, and foreign governments. Your children and grandchildren will be saddled with the burden of this debt. We will be lucky if they avoid collapsing under the burden of it.
So remember, the next time some politician says he is gonna cut your taxes, or build the newest advanced weapon system, or invade a country because, oh hell, we'll think of a reason eventually, it is actually just a form of borrowing against your descendants future!
http://www.brillig.com/debt_clock/faq.html
Then came Reagan, Bush I, and Voodoo economics! In a decade and a half, the national debt triples, after remaining stable for three decades. Notice the brief downward blip that was the Clinton presidency, then comes King George II and the debt skyrocketing faster than ever.
Understand that eventually, this money must be payed back. The majority of this debt is owed to Social Security, insurance companies. private pension plans, public pension plans, state governments, and foreign governments. Your children and grandchildren will be saddled with the burden of this debt. We will be lucky if they avoid collapsing under the burden of it.
So remember, the next time some politician says he is gonna cut your taxes, or build the newest advanced weapon system, or invade a country because, oh hell, we'll think of a reason eventually, it is actually just a form of borrowing against your descendants future!
http://www.brillig.com/debt_clock/faq.html
