Whose Debt is it??
Written By: Fred Phillips
In the grand scheme of things does it matter who created all this debt. Was it lazy slackers who suck off the government’s teat for their entire lives? Was it wasteful, inefficient, and perhaps even criminal government regimes that spent away our children’s future? Was it the Democrats or the Republicans? It doesn’t mean a hill or bean counters in the long run because the debt is here and whether we want to blame the ghosts of Ronald Reagan or LBJ, we have trillions in debt with no slow down in sight. But, before you jump all over the liberals or Democrats because they are viewed as the ones who spend, spend, spend, and spend some more, let’s take a gander down revisionist history lane.
The national debt as a percentage of GDP skyrocketed under Democrats, FDR and Harry Truman, during the 1930s through 1950s, then went on a gradual decline with Republican Eisenhower, Kennedy(Dem), the aforementioned LBJ(Dem), and Nixon(Rep) in the highest office of the land. Beginning with Saint Ronnie, the national debt as a percentage of GDP began its upward trend that, despite dipping a bit during Clinton’s regime, continues unabated to this day. Now I’m not saying that the Democrats are any good at this sound fiscal policy nonsense, but they sure aren’t any worse than the Republicans. Under Reagan and the King George Bush I and King George W II, the national debt as a percentage of GDP increased every year – yep, that’s right each and every year. Of course, if you talk to my mother in law, or any other die-hard Republican apologist, these increases were because of the demonic Democratic-controlled Congress. But, wait humble revisionist historians, for twelve of those twenty years, the Congress was not in the hands of the evil Democrats. So, take the Democrats, as guilty as they look now, off the suspect board and try another angle.
Now, it is true that policy is not the only factor that works for or against a president’s handle on the national debt. It is undeniable that Clinton, while smoking cigars with Monica, reaped the rewards of that great financial windfall that passed right by me and my dismal bank account, the dot-com bubble. His balanced budgets rode the coattails of a booming economy and the hard work of, drum roll please…Republicans, led by Newt Gingrich, in Congress. Clinton’s main contribution is that he didn’t screw it up. Which, considering the work of many of our presidents, is actually a great achievement.
OK, conservatives and Republicans, I can hear you now screaming at me through the pages of this book. Go ahead and scream all you want, you cannot change the facts, no matter how hard you try. But wait, I’m not apologizing for the Democrats; they want to take your money and spend it as much as any politician does. I just want to rewrite rewritten history; some may say that is two wrongs making a right, and others will say it is two wrongs making a wrong. I just think all politicians are wrong and left or right, they’ve all done all they could to screw up our country, but don’t believe for one minute the Republicans are any better at fiscal policy than the other side. They’re not!