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Monday, February 25, 2008

Chart of Ugliness

Angry Bear credits Dean Baker with this chart showing our debt to GDP ratio.Then we get the moneyshot quote ...
As has been widely publicized, the Bush era deficits reversed the effects of the deficit reduction from the Clinton years. We will almost certainly end the Bush years with a higher debt to GDP ratio than we had at the start of the Clinton presidency. That is not a disaster, but the next administration will not have the luxury of allowing the debt to increase in the same way.
Well, maybe the debt won't increase, maybe it will. If the next President continues the Bush Administration's stupid math tricks -- and abysmal and costly war in Iraq -- you'd be surprised how long we can keep this up!

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