Posted by: Jeff | November 16, 2010

Politicizing Debt

Over at The Atlantic, James Fallows posts a graph that highlights the skepticism with which Republican claims to balance the budget must be met:

To be clear: the middle column is how much overall federal debt grew, or shrank, as a share of gross domestic product during each administration, and the right-hand chart is the average annual rate of growth or reduction during that administration. As [budget analyst Chuck] Spinney said in a note, “The ideas of this column is to simply the average annual change for the period covered in the first column — so you can compare one term administrations to two term administrations in terms of their annual performance.  The first row of the second column says, for example, that the average debt burden ratio declined by 4.7% during each year of the Truman administration.”

In other words, GOP budget neutrality will be believed when seen, and it hasn’t been seen since Gerald Ford.

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Responses

  1. […] that Republicans care more about budget neutrality than Democrats.  Yet this seems completely out of whack with reality.  Annual deficits increased under Reagan.  They increased under Bush I.  And they increased […]


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