Jan Raymond (NajD) wrote:Comment on "W.Va. Democrat Wins"
Chris Berg - I would be cautious about being proud of being an ideologue. Ideologues ignore facts over logic. Fact - In the last 100 years Republicans have always championed low taxes, less regulation and smaller government. Only twice have they managed to grab control of both houses of Congress and the Presidency and had the opportunity to act on their beliefs, from 1921 to 1932 and from 2000 to 2006. Both times during their period of control we blew up big investment bubbles that popped and by the time the Republicans were going out of power we were in the midst of, respectively, the great depression and the great recession.
Fact - On the budget deficit since WW II the budget deficit grew about 16% when Republicans were President and about 8% when a Democrat was President. The biggest jumps in the deficit were a direct cause of policies enacted during Ronald Reagan's Presidency and George W's Presidency.
A particular Ideology may be emotionally appealing, but if you want to produce good policies, facts matter."
The commentor Chris Berg, to whom Jan was replying, requested numbers... so I got some.
The amount of the INCREASE in the National Debt during each presidential term.
- Ronald Reagan’s First Term – $656 billion increase
- Ronald Reagan’s Second Term – $1.036 trillion increase
- George H.W. Bush’s Term – $1.587 trillion increase
- Bill Clinton’s First Term – $1.122 trillion increase
- Bill Clinton’s Second Term – $418 billion increase
- George W. Bush’s First Term – $1.885 trillion increase
- George W. Bush’s Second Term – $3.014 trillion increase
- Barack Obama’s First “Year" – $1.573 trillion increase
Percentage increase in debt to GDP :
- Ronald Reagan 1st term +11.3%
- George H. W. Bush 1st term +13.0%
- Bill Clinton 2nd term -9.0%
- George W. Bush 1st term +7.1%
- George W. Bush 2nd term +20.7%
- Barack Obama 1st year +9% (trying to fix the disaster of the past 8 years)
The dark colors are the Gross Domestic Product of the United States, the lighter colors are the Expenditures (spending) of the government. The Visual Economics site is an interesting place to spend lots of time looking at pictures.
I found this great write-up about what happened and what works with the Economy, Debt, Spending and Tax Cuts - What They Never Tell You.
I found a statement on the Great Depression that I feel has correlation to the ongoing Great Recession :
The case that the New Deal exerted a damping effect on recovery through distorting prices and wages seems to be undermined significantly when we consider the international comparisons picture <snip> for no nation recovered significantly faster than the United States, regardless of whether they pursued New Deal like policies (as few did). If we take out the kink of the 1937-1938 recession on the grounds that one way or another it represented the results of a policy mistake not intrinsic to the New Deal per se then the United States becomes the indisputable champion of recovery. (see http://www.analysis.williamdoneil.com/Depression_Facts.pdf)It is interesting to note that the 1937-38 recession was just after the 'deficit hawks' convinced Roosevelt to cut spending drastically. The recession ended and recovery picked back up when Spending increased once again.
The Daily Markets website has an interesting article comparing The Great Recession to The Great Depression. It is a chart they have on that article that I am interested in dissecting.
... okay, going to stop rambling now... Republicans BAD! Reaganomics Very Bad! Democrats only less bad....