4 ms·
> The 8 years of Obama doubled a national debt that had taken about 230 years to accumulate. It's obviously bad to have out-of-control debt, but it's worth exp
by martinflack 9y ago
> The 8 years of Obama doubled a national debt that had taken about 230 years to accumulate.
It's obviously bad to have out-of-control debt, but it's worth expressing national debt as % of GDP for two reasons: (a) the GDP of a nation is an engine to be used for repayment and (b) it accounts better for inflation (in periods that the nation is off the gold standard). In that context, the Obama years did not put us back up to the record (WWII).
Here are some visualizations (I assume the data is correct, I'm not affiliated with this site):
http://metrocosm.com/history-of-us-taxes/ http://metrocosm.com/history-of-us-taxes/