« POPE IV Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: Quick Quiz and no looking it up 

By: Decomposed in POPE IV | Recommend this post (1)
Wed, 20 Jan 16 1:39 AM | 100 view(s)
Boardmark this board | POPES NEW and Improved Real Board
Msg. 02723 of 47202
(This msg. is a reply to 02718 by micro)

Jump:
Jump to board:
Jump to msg. #

micro: 

re: "Good guess but Jefferson was the first President to make sure we had a balanced budget."

There's more to the question than meets the eye.

Look at the chart below. It seems to be saying that JOHN ADAMS reduced the national debt. But if you look closer (the bottom of the graph) you see that the debt isn't being displayed in dollars but in percent of GDP. That's not the same thing at all. In fact, if a person grew the economy, he could also increase the debt and have Adams' result. (I suspect that's what Adams did.)

Notice the 0.0 next to Andrew Jackson. He ELIMINATED the debt - a very impressive feat and not a statistical mirage. To their credit, all of the Presidents after Washington had been moving the country in that direction, at least as a percentage of GDP.

The whole idea of obfuscating the national debt by showing it as a percentage of GDP is a crock. GDP is a ridiculous, easily-manipulated and misunderstood figure that actually includes GOVERNMENT SPENDING as one of its components. Imagine that. If government took huge amounts of its income (taxes), built bombs and blew 'em all up in a field, it could result in a high GDP and most people would think it was good news. I guess it would be. The economy would be "BOOM"ing, after all.
 

Uploaded Image




Avatar

Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


- - - - -
View Replies (2) »



» You can also:
- - - - -
The above is a reply to the following message:
Re: Quick Quiz and no looking it up
By: micro
in POPE IV
Wed, 20 Jan 16 12:23 AM
Msg. 02718 of 47202

De,
Good guess but Jefferson was the first President to make sure we had a balanced budget.

He also along with Madison and several others called themselves Republicans.

At his first inauguration, he actually WALKED to the place where the ceremony was to be because he did not want the taxpayers paying for him to ride in a luxurious coach when he could easily walk there.

Very interesting man with diametrically opposed ideals versus reality. He was fiercely against owning slaves, yet he had over a thousand, many of which he inherited from his father and his father in law. He set NONE of them free. Very strange...



« POPE IV Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next