National Debt by President
Posted By Barry Ritholtz On May 18, 2010 @ 12:00 pm In Politics,Taxes and Policy | Comments Disabled
I have been very critical of Obama [1] for following Bush’s bankster bailout policies. And I thought his reliance on Robert Rubin & the RR Choir (Summers, Geithner, et. al) was ill advised.
But I don’t understand those on the far right who seem to believe that deficits were created on January 20th, 2009.
Consider this chart — it shows the National Debt as a percentage of GDP. Its pretty telling:
>
National Debt Graph
click for larger chart
[2]
Chart courtesy of zFacts.com [3]
>
See also
Government debt explosion hits turning point [4]
http://finance.yahoo.com/news/Government-debt-explosion-apf-3157069187.html
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2010/05/national-debt-by-president/
URLs in this post:
[1] critical of Obama: http://www.ritholtz.com/blog/2009/04/the-14-most-strident-critics-of-obama/
[2] Image: http://www.ritholtz.com/blog/wp-content/uploads/2010/05/National-Debt-GDP-L.gif
[3] zFacts.com: http://zfacts.com/p/318.html
[4] Government debt explosion hits turning point: http://www.ritholtz.com/blog http://finance.yahoo.com/news/Government-debt-explosion-apf-3157069187.html
Click here to print.