Can someone tell me the amount of debt Regan and the Bush's accumulated?

[10mm-man]

I heard it's around $12 Trillion- This can't be true can it? I mean they are such conservatives!

[asmo]

Define 'debt'

[bryjcom]

Reagan added about 1.3 trillion.

Bush added about 4.9 trillion.

[merl]

http://www.multpl.com/u-s-federal-deficit-percent/



(just a random site I found with a google search)

The raw debt number isn't that meaningful due to inflation. How fast it is growing or shrinking is more meaningful. Chart I linked is deficit/GDP

Can see that during Carter it jumped form the historic (post WW2) 0-2.5% to 2.5-5%. Then during Reagan it jumped even further above 5%. This could be due to taxes being cut without cutting spending or just increasing spending but either way he raised the bar on what was an acceptable deficit.

Can see everything ramp down during Clinton, by the time he was done we were at historic surplus levels.

Then the .com bubble went pop and Bush2 came along. Deficits went right back to Reagan's level then started getting better.

Then everything fell apart again and the deficit is now back to historic levels not seen since WW2.

Everyone since Carter has been spending like mad, except Clinton. And Clinton didn't have a nice 'crisis' during his term.

[spqrzilla]

On your chart, "down" is bad. Your chart does not appear to include in its calculations the borrowing from social security surpluses. Also deficit isn't debt. Debt is the accumulated deficits.

[merl]

yep, negative numbers bad. Just harder to quickly say 0 to (-2.5%) so I figured folks would get it. Total number, borrowing from a surplus is just a fancy way of saying tax. Especially when people start talking about means testing SS.

I still care about the deficit number because if that sits at 0 and the economy keeps growing the actual debt drops thanks to inflation. Inflation sure isn't going away.

Ans I suppose my point is that every leader in my lifetime except Clinton has been happy to spend and spend (R) or (D). And Clinton had a nice peace dividend combined with a new tech bubble.

[Delfuego]

http://www.snopes.com/politics/polit...debt.asp#photo



Have a graph...

Reagan left with 3 trillion in the hole
Bush Jr came in +3 trillion surplus, and left around 8-10 trillion in the hole depending on who you ask.
In fact if it wasn't for George Sr. tax hike (which got him voted out) we would be in a lot bigger trouble.
All Clinton did was ride the surplus created by GHWB.

[Delfuego]

http://www.snopes.com/politics/polit...debt.asp#photo



Have a graph...

Reagan left with 3 trillion in the hole
Bush Jr came in +3 trillion, and left around 8-10 trillion in the hole depending on who you ask.

[10mm-man]

Thanks for the explanation guys; since many conservatives won't admit it, i thought I would ask.

So then this graph is correct: http://zfacts.com/p/318.html

[low drag]

Thanks for the explanation guys; since many conservatives won't admit it, i thought I would ask.

So then this graph is correct: http://zfacts.com/p/318.html

Regan did increase the debt, no doubt about it. Based upon your sig line/resume you are too young to remember. Regan cut taxes and the economy boomed. This is a fact. Now stay with me. To get what he wanted in terms of building up the military he had to compromise with Tip O'Neal (speaker of the house at the time) and we increased all manor of social spending.

You are right, Regan increased the debt due to spending, not due to government receipts (I don't call taxes revenue for the gubmint).

Tax cuts will grow the economy every time. BUT spending increased as well.

If you personally double your salary but quadruple your spending you're still in trouble. That in a nut shell is what DC has been doing for a long time.