Sunday, July 31, 2011

US DEBT: THE BIG PICTURE

Source: New York Times/Boston Globe

DID YOU KNOW THAT:
1) 93% of all the debt America has accumulated in its entire history has happened since 1980?
2) 71% of all the debt America has accumulated since 1980 happened under Presidents Reagan, Bush Sr, and Bush Jr?
3) 54% of all the debt accumulated under President George W. Bush was caused by waging two wars while at the same time cutting taxes?
4) 32% of all the money borrowed by the US has come from surpluses in the Social Security trust fund?
5) 100% of this problem can be solved over time by simply spending a little less and paying a little more?