In a day and age when there seems to be a War on the Middle Class
, it's hard not to get discouraged. With College costs, medical costs, and every other cost seemingly going through the roof, living the "American Dream" of pulling yourself up from you boot straps and making something of yourself seems to be less and less obtainable.
So, I asked myself, "Why?" I wasn't really around for many of Clinton's days, so I definitely don't remember how the economy was before the days of an ever increasing deficit
Then, I found this little jewel
The graph shows how the country's deficit was affected by Republican and Democratic presidents.
The graph is not only interesting, but the article below is as well.
Since 1938 the Democrats have held the White house for 35 years, the Republicans for 33. Over that time the national debt has increased at an average annual rate of 8.7%. The Democratic yearly average (that is the years Democrats were in the White House) was an increase of 8.3%. The years while the Republicans ran the White House, during this same period; the debt increased an average 9.3% per year. Those averages are pretty close.
If you look at the debt starting with Truman’s term (and remove Roosevelt’s WWII debt) the difference between the two parties contributions to our national debt level change considerably. Since 1946 the Democratic Presidents increased the national debt an average of only 3.7% per year when they were in office. The Republican Presidents stay at an average increase of 9.3% per year. Over the last 59 years Republican Presidents have out borrowed Democratic Presidents by almost a three to one ratio. That is, for every dollar a Democratic President has raised the national debt in the past 59 years Republican Presidents have raised the debt by $2.87.
Prior to the Neo-Conservative take over of the Republican Party there was not much difference between the two parties debt philosophy, they both worked together to minimize it. However the debt has been on a steady incline ever since the Reagan Presidency. The only exception to the steep increase over the last 25 years was during the Clinton Presidency, where he brought spending under control and the debt growth down to almost zero.
After this administration, there will need to be about 100 years of Democratic Presidents to make anything better. Thanks Republicans, Thanks a lot.