{"id":3049,"date":"2009-04-17T18:21:54","date_gmt":"2009-04-17T23:21:54","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=3049"},"modified":"2009-04-19T06:48:07","modified_gmt":"2009-04-19T11:48:07","slug":"deficit-spending","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2009\/04\/17\/deficit-spending\/","title":{"rendered":"Deficit Spending&#8230;"},"content":{"rendered":"\n<p>I&#8217;m obviously having a &quot;graph day.&quot; I usually post the National Debt as a percentage of the GDP, which corrects for inflation [the lower figure]. However, the upper figure [the absolute national debt] has a meaning of its own:<\/p>\n<p align=\"center\"><img loading=\"lazy\" decoding=\"async\" height=\"408\" border=\"1\" width=\"350\" src=\"http:\/\/upload.wikimedia.org\/wikipedia\/en\/thumb\/3\/3b\/USDebt.png\/350px-USDebt.png\" \/>&nbsp;<\/p>\n<p align=\"justify\">That level line in the upper figure that runs from about 1948 until 1981 means that there was <strong><u>no<\/u><\/strong> deficit spending. The National Debt is, after all, the <strong>Expenses Minus Revenues<\/strong>. Then came Reagan\/Bush and Deficit Spending. Clinton balanced the Budget. Then came Bush Junior and more Deficit Spending.<\/p>\n<div align=\"justify\">This makes the current Republican claims of run-away spending even more ludicrous. Their tax cuts had disastrous consequences. They are claiming that Obama&#8217;s Deficit Spending is just Democrats-as-usual rather than a desparate attempt to head off a Depression like that of the 1930&#8217;s. That&#8217;s simply not true.&nbsp; <font color=\"#330000\"><strong>If anyone abused Deficit Spending, it was Reagan\/Bush\/Bush! How is that different from a Ponzi Scheme?<br \/><\/strong><\/font><\/div>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;m obviously having a &quot;graph day.&quot; I usually post the National Debt as a percentage of the GDP, which corrects for inflation [the lower figure]. However, the upper figure [the absolute national debt] has a meaning of its own: &nbsp; That level line in the upper figure that runs from about 1948 until 1981 means [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3049","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/3049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/comments?post=3049"}],"version-history":[{"count":0,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/3049\/revisions"}],"wp:attachment":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/media?parent=3049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/categories?post=3049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/tags?post=3049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}