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US National Debt

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June 03, 2007 – Comments (2)

 I'm not sure if widgets will work here, at the bottom I've put the code for a widget for the US National Debt, so I expect to see the widget, otherwise you can see the code and it is working on my other blog.

 Countries have great leaders, and they have leaders that mortgage and destroy the next generation's future.  The link, http://zfacts.com/p/318.html, shows a graph of the US National Debt as a Percent of Gross Domestic Product and you can see which Presidents had good fiscal control and which one were/are a diaster.

 In Canada many Canadians mistakenly think that Prime Minister Malroney caused our massive debt, but he was our Prime Minister that warned Canada what debt to could do and worked on fixing the disaster left by Trudeau.  When Brian Malroney was elected program spending exceeded tax revenues by $39 billion, not including debt serving.  The rate of defit growth was out of control.  Every year Malroney was in office the defit was reduced and by the time he left office program spending matched taxes.

 If anyone ever asks me which Prime Minister was Canada's greatest Prime Minister I would answer Brian Malroney without hesitation.

 Who is America's greatest President in your lifetime and why?





The Gross National Debt

2 Comments – Post Your Own

#1) On June 05, 2007 at 3:51 PM, des52 (< 20) wrote:

I would have to say Ronald Reagan.  Its a no brainer.  Inflation was out of control when he came in and he lowered spending and taxes to reign the government in.  Carter though a nice guy did not have a clue what to due with finances.  Our prosparity today is largely due I think to Reagan proveing that lower government spending and lower taxes are the way to economic health.

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#2) On June 09, 2007 at 8:49 PM, dwot (45.74) wrote:

That web page shows that US National Debt as a percent of GDP was out of control under Reagan and he has the distinction of being alone in having debt speed out of control during peace times.

 It is the opposite of what Malroney was doing.

 I think it gives a very short term appearance of economic improvement, but the burden of debt left behind ultimate sucks the life out the economy for generations to come.

 A lot of people think Canada was way better under Trudeau, but look at how our currency dropped compared to currencies around the world and the burden of debt that followed.  Debt always means you have less money for communities services because of obligations to repay debt.

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