71% of national debt happened during GOP presidencies; 28% under Dem presidents
America’s Blog, July 28, 2011
GOP Presidents Dem Presidents
$9.5 trillion $3.8 trillion
Total debt is $14.3 trillion.
$1 trillion of debt comes from before Reagan (NYT doesn’t make clear who created that debt).
$13.3 trillion accumulated from Reagan to Obama.
71% of the $13.3 trillion was under GOP presidents.
28% of the $13.3 trillion was under Dem presidents.
(Source: NYT pieced together data from Treasury, OMB, Federal Reserve Bank of NY, and more)
More from the New York Times,
How Often the Debt Limit Has Been Raised
By the Treasury Department’s count, Congress has acted 78 times since 1960 to raise, extend or alter the definition of the debt limit — 49 times under Republican presidents, and 29 times under Democratic presidents. Related Article »
U.S. Debt Limit Since 1940
Sources: Office of Management and Budget; Bureau of Economic Analysis
How Bond Rates Could Rise If the U.S. Rating Is Lowered
If the AAA rating of the United States was lowered, bond rates would most likely rise, making it costlier to pay the interest on its debt. Related Article »
|Standard & Poor’s Sovereign|
|Rating||Outlook||10-Year Government Bond Yield|
|United States||AAA||Watch Neg.||3.0|
Sources: Standard & Poor’s; Bloomberg