April 28, 2011
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RELATED TICKERS: SVL
One with a different view point and clock amount. http://zfacts.com/p/461.html
I wonder who is right or a combo of both. http://www.usdebtclock.org/
zfacts seems way biased. Several entries harping on conservatives and blaming Reagan. The truth is Reagan's tax cuts increased revenues, but the purse strings were controlled by Democrats who spent like crazy, the surplus and more. The only thing to criticize Reagan on is not vetoing more spending legislation.
The usdebtclock looks very interesting. The Gold and Precious Metals page has an odd thing going though: every metal has dropping reserves! The constantly increasing production (middle column) makes sense, since it isn't net, just production this year. But the right column should be net, and every one is falling, as if no one on earth were saving up a store of any metal. I don't believe it.
But any focus on the debt problem can do some good, so go ahead and promote these pages if you like.
I wonder why zfacts did not compare national debt to GDP or GNP?
Economists usually consider GDP or GDP per capita to be a good way to evaluate a nation's economy.
Exactly. Oh and rf Regan ended up raising taxes. You see how different information can color the view. Also look at the different national debt on each one.