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Interesting. It seems that only Truman's debt-cutting is responsible for 'outweighing' Obama's dramatic increase in the debt (relative to GDP). Even Reagan and
by argonaut 14y ago
Interesting. It seems that only Truman's debt-cutting is responsible for 'outweighing' Obama's dramatic increase in the debt (relative to GDP). Even Reagan and Clinton increased debt relative to GDP.
That being said, this definitely over-represents the increase in debt when a president increases the absolute debt while the economy shrinks/stagnates, and vice versa.
- Tagbert 14y agoMy understanding of the recent debt is that it is caused less by increased spending and more by a dramatic drop in revenue because of the economic collapse since 2008.