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Who Increased the National Debt?

Who Increased the National Debt?

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Published by Paul Schumann
An analysis of the federal debt from 1940 though 2010 by presidential term.
An analysis of the federal debt from 1940 though 2010 by presidential term.

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Published by: Paul Schumann on May 31, 2011
Copyright:Attribution Non-commercial

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05/12/2014

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Who Increased the National Debt?
Paul SchumannI first saw the chart below on this subject on Facebook fromLeft Action. Itpurportedly came from the Democratic leader of the House.I found the results so surprising that I verified the data for myself. I did not want toperpetuate a lie based on false data. I also wanted to go back further in history tosee how earlier presidents fared on this measure. Of course we realize that it’scongress that actually spends the money but it very popular right now to identifydebt by the president and his administration.My source for data was theOMB(Office of Management and Budget), specificallytheir Historical Tables, Table 7.1 Federal Debt at the End of the Year 1940 -2016. The data for 2010 was still estimated when I did this analysis. Gross Federal Debt isthe sum of Public Debt and Debt Held by Federal Government accounts (otheragencies). The results I got are shown below:
 
2While the actual numbers differ a bit from the chart on Facebook, the overall trendsare the same. Reagan still is the greatest contributor on a percentage basis of anyof the presidents from 1940 to the end of 2010.I wondered what the chart would like rationalized by the GDP (Gross DomesticProduct). The results are shown below:Paul Schumann,paschumann2009@gmail.com,http://insights- foresight.blogspot.com 

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