Federal Debt as a % of GDP
Posted By Barry Ritholtz On May 20, 2010 @ 12:00 pm In Credit,Politics,Taxes and Policy | Comments Disabled
On Tuesday, I showed a chart of National Debt by President [1]. Several readers said a more informative chart would include control of Congress.
Enter Doug Short — he directed me towards that exact chart — including party control of Congress.
My only disagreement with Doug is he blames [2] “spending.” I think that is half right — anything that is unfunded — spending, tax cuts, wars, entitlements — should be blamed for the Debt. You can allocate government revenues however you like — but allocating for any usage beyond revenues is how you create debt.
Regardless, the chart is quite fascinating:
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Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2010/05/federal-debt-as-a-of-gdp/
URLs in this post:
[1] National Debt by President: http://www.ritholtz.com/blog/2010/05/national-debt-by-president/
[2] blames: http://dshort.com/articles/2010/debt-to-gdp-politics-market.html
[3] Image: http://www.ritholtz.com/blog/wp-content/uploads/2010/05/federal-debt-to-gdp-politics-update.gif
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