Source of Our National Debt

Source of Our National Debt
by
David Schlecht

Did you know that the president of the USA is the source of the country’s budget? Every president proposes a budget and congress takes that proposal and either passes it as is or tweaks it and passes it. Then, the president signs or vetoes the budget. I suppose most everyone reading this blog already knows this.

If congress doesn’t like the budget they can just scrap the whole thing and make their own and the president can veto it.

The budget belongs to the president. This is the opposite of what the constitution says in which it says the House of Representatives is where all budgetary bills originate.

Look at this graph of our nation’s debt over the past century. Tell me which political party is the party of drunk Animal House frat boys?

National debt as function of GDP

What’s of most interest here is how the Republican party is screaming and hollering about tax and spend Democrats when the facts, as always, shows them to be lying hypocrites. Why does anyone still believe the Republican party? Whey does anyone still vote for the party that is shipping our jobs overseas? Come on America, you’re smarter than that.

What did the last ten years of the GOP bring us?

2 thoughts on “Source of Our National Debt”

  1. More importantly, this is a shining example of when supply side economics took control of our government.

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