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How Big Is The US Debt?
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<blockquote data-quote="bluehdmc" data-source="post: 1057285" data-attributes="member: 18471"><p>The US debt was tremendous after WWII and the country steadily was paying it off. The country was on pace to pay off the debt by 1992. The Ronald Reagan was elected with his "supply side" and "trickledown" economics. Their theory was "debt doesn't matter" and has been escalating ever since. </p><p></p><p>During WWII the debt to GNP reached 114% but was paid down to under 50% before Reagan was elected. It's gone up steadly since then crossing the 100% threshold with the bank bailouts in the aftermath of the crash of 2008.</p><p></p><p>I feel if there was cooperation in Washington and a real effort made, instead of trying to protect the "pork barrel" in someones district the debt could be reduced. It was reduced down to under 50% once........</p></blockquote><p></p>
[QUOTE="bluehdmc, post: 1057285, member: 18471"] The US debt was tremendous after WWII and the country steadily was paying it off. The country was on pace to pay off the debt by 1992. The Ronald Reagan was elected with his "supply side" and "trickledown" economics. Their theory was "debt doesn't matter" and has been escalating ever since. During WWII the debt to GNP reached 114% but was paid down to under 50% before Reagan was elected. It's gone up steadly since then crossing the 100% threshold with the bank bailouts in the aftermath of the crash of 2008. I feel if there was cooperation in Washington and a real effort made, instead of trying to protect the "pork barrel" in someones district the debt could be reduced. It was reduced down to under 50% once........ [/QUOTE]
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