National Debt in the Bail-out Era
by cactus
A Graphical Look at the National Debt in the Bail-out Era
Apologies for the lighter than normal posting, but things have been very hectic around here. Aside from some health issues facing my wife and work being particularly interesting right now, I’m reviewing a lot of stuff that is coming back fast and furious from the illustrator for my (our, actually, as I have a co-author) book which comes out later this year.
Meanwhile, last minute we ended up needing an “Obama chapter.” Here’s a graph that was produced on the fly for that chapter (before the illustrator does his magic and makes it really look snazzy):
That’s all I got. Reach your own conclusions.
Data sources…
Debt comes from the the Treasury.
CPI and Population come from Fred.
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by cactus
cactus,
In the switch over period between administrations, is this a money appropriations picture, a money authorizations picture or a money expenditure picture?
Its just current debt up to the moment. Not all debt is incurred immediately upon authorization.
Thus, some of “Obama’s debt” increase is due to the TARP. But then its not like Obama’s administration went to the Congress and said: “We think the welfare queens on Wall Street got more than enough. And those assorted cash for clunkers and bennies to home buyers are poorly targeted too. Please rescind the remaining authorization or at least let us figure out how to get a bit more bang for the taxpayer buck.” So even if GW got the ball rolling, the piece of the debt growth that came after Obama got inaugurated belongs to Obama.
cactus,
My interpretation. Keep the Reps in charge of congress. Seems the wheels didn’t start coming off until after the 2006 mid-terms….
Second point: Its not like Obama and the Dems were proposing some other course in Sept-Oct 08 that would have changed the curve. They were just as onboard as Bush and company.
Third point: As was McCaine also. Seems another bi-partisan effort during the first up-tick (Oct-Jan 09) followed by the Dems owning it all after that.
Islam will change
buff,
“Keep the Reps in charge of congress. Seems the wheels didn’t start coming off until after the 2006 mid-terms…. “
You do know that just because the graph starts in 2007 doesn’t mean nobody remembers what happened to the debt from 2001 to 2007.
“Its not like Obama and the Dems were proposing some other course in Sept-Oct 08 that would have changed the curve. They were just as onboard as Bush and company. “
Which is why, as I said, the debt belongs to him. And them.
“followed by the Dems owning it all after that.”
That’s what I said.
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