johndylan1
DP Veteran
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- Aug 26, 2013
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A "meme" I saw on facebook this morning asked this question.
I was very surprised at the answer.
While it is debatable as to whether the credit goes to Congress or the Presidents, we know that the last 3 Democratic Presidents ALL decreased the annual deficit. These Presidents include:
Barrack Obama
Bill Clinton
Jimmy Carter
I am curious as to how many people get it right as to who the last Republican President was that decreased the annual deficit.
The reason I think this is important is because public opinion of this is extremely backwards as compared to reality.
I knew the answer to the question was none of the above, but this sure leaves a deceptive impression.
Did the facebook "meme" happen to mention how this was measured? In terms of percentage? Real or nominal dollars? From what baseline? In particular with respect to President Barack Obama, is this a second term reduction?
If for instance one explodes the deficit due to the passage of a 800 bil dollar stimulas, and then subsequently is forced to cut the rate of growth by an unwise sequester deal, does that count as a reduction although the total debt continues to explode?