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Of course, the debt has increased every year for decades, with the possible exception of 1999. If you look at the debt in terms of constant dollars, the debt of 1945 doesn't look too bad, does it? Of course, the 1945 dollar was worth more than $10 in 2007 money, and that debt was spread over a lot smaller population. The fact that the debt as a percentage of GDP is increasing is a cause for concern.That debt from 1945 was due to WWII, of course. After the war was over, the country managed to start paying it down, while building the interstate highway system and rebuilding our former enemies and allies. After that, we fought yet another costly war in Vietnam, we put a man on the moon, and we still didn't increase the debt greatly. What great acheivement have we accomplished in this decade of unprecedented government growth and debt? The problem is lack of leadership, plain and simple.
Of course, the debt has increased every year for decades, with the possible exception of 1999. If you look at the debt in terms of constant dollars, the debt of 1945 doesn't look too bad, does it? Of course, the 1945 dollar was worth more than $10 in 2007 money, and that debt was spread over a lot smaller population. The fact that the debt as a percentage of GDP is increasing is a cause for concern.
That debt from 1945 was due to WWII, of course. After the war was over, the country managed to start paying it down, while building the interstate highway system and rebuilding our former enemies and allies. After that, we fought yet another costly war in Vietnam, we put a man on the moon, and we still didn't increase the debt greatly. What great acheivement have we accomplished in this decade of unprecedented government growth and debt?
The problem is lack of leadership, plain and simple.
