The National Debt has increased with EVERY US PRESIDENT SINCE 1930
Some more than other, yes, but not one of them has actually reduced the National Debt.
in fact, if you look at this chart
you can see times in history
where the National debt grew and where it shrank (by decade)
In EVERY instance of the shrinkage it was because of a deflationary period, a recession, or a depression.
Because, it is ONLY though those economic cycles that debt is taken OFF THE BOOKS.
I would like to believe that SOME of our Congress Critters are actually learning a little about economics and are finally realizing that we cannot
solve a debt problem with more debt anymore than you can cure a heroin addict with more heroin.
We have had at least 30 years of consistent growth, some will argue 65 years of growth.
It HAS to contract!!
Either we focus on a slower, controlled contraction - while fixing the causes of this mess - or we literally end up going BOOM!
Right now we are causing a severe risk of a Bond Market dislocation. Once foreign countries decide to no longer buy our debt, it will happen. And
since the rest of the world is going through the exact same thing we are, it's gonna happen, because they aren't going to
#1 Trust that our debt is good
#2 Afford it
I've been living on CSPAN and coffee for months now, and there are MANY people in congress who understand this, unfortunately there are many who
choose to ignore it.
Don't ask me who is who, because I listen to CSPAN, I don't watch it closely so I really don't know which party lines are involved, but I do know
that there are many who see the problem for what it is and want to FIX it, not feed it.