Notice who is was that ran up the debt! I tell you what they're REALLY doing. If you look at the chart you'll see Reagan and Bush 1 spent money like drunken sailors giving most of it away to their friends. Then Clinton got elected. Clinton balanced the budget with the help of the GOP that came in 94'. This is how they TRICKED us into thinking they really cared about debt. But when Bush 2 came in with control of the Congress. They spent money like drunken sailors again. Now that Obama is elected they want to do the same thing. PRETEND that they care about debt when they only want to balance the budget NOW so if they get the WH in 2012 they can spend money like drunken sailors again.
And that's the TRUTH!
Another thing about this chart. Around the time it starts going up is when NIXON took us off the gold standard.
The term Nixon Shock is used to refer to two different policy measures taken by U.S. President Richard Nixon in 1971 and 1972.
In 1971 Nixon unilaterally canceled the Bretton Woods system and stopped the direct convertibility of the United States dollar to gold. The second shock was the 1972 Nixon visit to China that brought a surprising new twist to Cold War diplomacy
http://en.wikipedia.org/wiki/Nixon_ShockPS The Clinton bump wouldn't have happened if not for RAISING TAXES ON THE RICH! There's no way you can raise revenue without RAISING TAXES! Unless you want to go back to the TARIFFS. I'm okay with that. But the globalists aka REPUBLICANS and their Wall Street friends will hate it.
Obama is balancing things just about right. RAISE TAXES ON THE RICH, create jobs and cut costs where you can. If he keeps on this course and doesn't let the SPOILED BRATS screw it up we'll be okay again by 2010.
PSS. No offense to drunken sailors.