Federal Debt As A per cent Of GDP -- By President!

On Tuesday, I showed a chart of National Debt by President. Several readers said a more informative chart would include control of Congress.

Enter Doug Short — he directed me towards that exact chart — including party control of Congress.

My only disagreement with Doug is he blames “spending.” I think that is half right — anything that is unfunded — spending, tax cuts, wars, entitlements — should be blamed for the Debt. You can allocate government revenues however you like — but allocating for any usage beyond revenues is how you create debt.

Regardless, the chart is quite fascinating [click chart to see bigger interactive version]:

Gross Federal Debt As A per cent Of GDP

Photo: Doug Short: dshort.com

This post is reprinted from The Big Picture.

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