A picture graph is worth 1,000 pages of congressional lawmaking.
The chart on the left was compiled by Bloomberg, and shows the budget surplus / deficit as a percentage of Gross Domestic Product.
I came across this chart this morning, and mentally did an overlay of historical events. That led me to wonder what a longer historical perspective would show.
Deficits since the Civil War
I found the most interesting and interactive website to help me with this. The chart below shows the Federal Deficit as a percentage of Gross Domestic Product since 1860. You'll want to note some significant events that have taken place in our nation since that time, and overlay the events on the chart.
The American Civil War
1861 to 1865
US Involvement in World War I
1917 to 1919
US Involvement in World War II
1941 to 1945
The First Gulf War
1990 to 1991
The Iraq War
2003 - 2009
And that leads me to wonder this: To what event will history attribute that blue spike on the right, a deficit never equaled except in a time of world war?
Back to that first chart...
From the TARP bill to the current legislation passed over the weekend under the heading "health care reform," it's apparent that none of the elected representatives we voted into office take the time to READ, EVALUATE, and UNDERSTAND the legislation they enact into law.
"There wasn't time," I've heard lawmakers say on CNN, "the crisis was so great that we had to act..."
I beg to differ.
- You can't run your real estate business like that.
- You can't operate your household like that.
- We ought not to let our representatives run our country like that.
The Voter Revolution
2009 to ...
I'm Mike in Tucson, and I blog here on the Active Rain Real Estate Network just about every day.
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