Nonsequitur: The National Debt Over Time

July 29, 2012

I found this nice chart by Ted Mohn of the Fayetteville Observer.  It shows the National Debt over time* with both president and congress (Republican-controlled, Democrat-controlled, split) shown for context.

Click for full picture

It demonstrates a basic reality of debt – if you don’t pay it off, it grows and grows.  In political talk, continued deficits add to debt.  Over the past decade, these deficits resulted from two extended wars and a large, mostly ineffective, economic stimulus program.  (The National Debt grew $4.8 Trillion under President Bush over 8 years.  The National Debt grew by over $5 Trillion under President Obama over 3 1/2 years.)

* Mohn created this chart in March of this year.  You can guess the direction the chart continues since then.  The Treasury Dept. estimates the debt will be over $16 Trillion by the end of the year.

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