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Re: Quick Quiz and no looking it up 

By: Zimbler0 in POPE IV | Recommend this post (3)
Thu, 21 Jan 16 12:41 AM | 86 view(s)
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Msg. 02762 of 47202
(This msg. is a reply to 02723 by Decomposed)

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Any way one looks at it . . .

FDR and Bozo obombo are the two worst.

Zim.




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Mad Poet Strikes Again.


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The above is a reply to the following message:
Re: Quick Quiz and no looking it up
By: Decomposed
in POPE IV
Wed, 20 Jan 16 1:39 AM
Msg. 02723 of 47202

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.
 

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