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Thursday, October 25, 2007

Tax Later, Spend Now Republicans

I just updated this data with the FY2007 data on the National Debt (the fiscal year ended September 28th).

Using CBO projections adjusted for where this year ended up (about $93 billion worse than they projected), one comes up with these facts.

Bush-43 may be be the most spendy President in the history of the Republic and that's hard to do, ever since Ronald Reagan insisted on buying the American Dream on credit. What's more, with all the war-costs discounted, Bush may yet reach near two-thirds of the cost of WW-II on a per-capita cost basis.

The GOP under Bush have also had the unique opportunity to spend away money that might have gone into a Gore-like "lock box" for social security. He's at ten times the amount Regan; four times his father (who raised taxes); and almost double Clinton, measured in 2006 dollars.


Big Debt SpenderCumulative Total Debt Per PresidentPer HouseholdPer Household - 2006$
BUSH-434,077,752,506,11634,06831,035
CLINTON1,395,974,529,06113,04614,851
BUSH-411,554,057,922,95216,07221,198
REAGAN1,828,701,960,18719,87829,496
CARTER309,786,000,0003,7807,454

Big Debt SpenderCumulative Trust Fund RaidPer HouseholdPer Household - 2006$
BUSH-431,828,000,000,00015,27213,913
CLINTON803,800,000,0007,5128,551
BUSH-41209,200,000,0002,1642,854
REAGAN72,100,000,0007841,163
CARTER-11,300,000,000-138-272


*source: Bureau of the Public Debt; GDP deflator from BEA; Houshold size from Census Bureau