Since 1990, the ratio has essentially been stayed within a narrow range around 60% compared to the previous 90 years. What that means is that in spite of the extensive spending for wars in Afghanistan and Iraq, the Bush administration has not been reckless in its deficit spending compared to the previous administration. This ratio is also low compared with other countries; according to Wikipedia, the ratio of national debt to GDP for other countries as of 2006 was:
-Japan...175.5%!!!...
-Italy...107.80%...
-Belgium...90.30%...
-Germany...66.80%...
-France...64.70%...
-USA...64.70%...
2 comments:
Absurd. By 1990 deficit spending had reached an all time high (since ww2) under Regan. By 1994 Clinton admin was finally reducing this deficit, and continued to do so until the 2nd BUSH elected in 2000 when deficit spending again spiraled up to its current high, surpassing 1992. The graph conveniently leaves out 06-07 continued increase. This graph if anything proves THE OPPOSITE of the blogger's contention.
Agreed. Trying to make a point by using a graph that proves you wrong is not a very smart thing to do.
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