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US National Debt History (Graph): White House data show the gross national debt hit a 47 year low just as President Reagan was taking office. It climbed steadily under Reagan and G. H. W. Bush, declined under Clinton and made a quick U-turn under G. W. Bush.
The Gross Deficit vs. the political Deficit Lite The real deficit remains near its peak and over half a trillion $ per year.
US National Debt Clocks: The Gross National Debt is over $8 trillion and climbing. More than $1.5 trillion of the debt is owed to the Social Security trust fund and indirectly to those who have paid their FICA taxes.
Presidential Contributions to the Gross National Debt: The gross federal debt now stands at 63.5% of GDP. Of that, 33.5 percentage points were contributed by Reagan-Bush, 6 points by G. W. Bush, and 6.1 points by printing money. The remaining 18 points are left over from WWII.
An Introduction to the Debt Problem (PDF): President Reagan came to power claiming the trillion-dollar national debt was the country's central problem. He then proceeded to double it. President Bush has predicted he will set a 50 year debt record—if re-elected.
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http://zfacts.com/p/331.html | 01/18/12 07:17 GMT
Modified: Sat, 18 Dec 2010 05:40:44 GMT
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Note corporate debt ads trying to scare you. Then check the real story here.
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