National Debt

Yes, that's trillion (see debt clock to right). The alarming size of the debt, however, is only part of the story. Another key, but less obvious, aspect of this story has to do with this graph: U.S. National Debt/GDP (click to enlarge)—thats government debt, not total. The red sections, which show the greatest expansion of debt, are during the Republican Reagan and Bush Boys eras (so much for small government!). But the Republicans were never really for small governement. They were for small benefits for citizens and big government spending on military-industrial projects and 'crony capitalism' that swelled the debt and funneled tax payer money to the corporate interests who support their campaigns and get them elected.

 

The less obvious effect of this massive government spending is that it bankrupts the country and the following presidency for many years into the future. Of course they don't go broke. They just borrow more. But, I would argue, that this debt is intentionaly, even systematicaly, increased–particulalry toward the end of a republican president's term–to tie the hands of the next, usually democratic, president. The republicans seem to sense, at least, that no one is going to re-elect them once they find out how badly they've been ripped off.

 

Now Bush Jr. is giving away billions to some of his biggest supporters on Wall St. just before he fades into an anonymity even greater than Tony Blair's (lets hope). But like Clinton, who couldn't get healthcare reform done with the massive debts left to him by Reagan/Bush One, Obama will have a tuff time spending on anything that benefits citizens like health care, education and infrastrucure. Bush Jr. has already given that tax payer money (and much more) to No-Bid Contrators like Halliburton, Mercenary groups like Blackwater. And now, with the TARP bailout, his other major donor base, Wall Street is off the hook too. Makes you think that the whole point of Reagn-Trickle-Down-Supply-Sided-Free Market Friedmanomics, is actually to steal from the tax payers (ie. the poor) and give it to the corporations (ie. the rich)–while at the same time bankrupting the following president, so there wont be any money left for him to fix things. Unfortuantely, there is so much easy money floating around the economy during times of such high borrowing that everyone catches a bit, thinks they're doing well and elects another asshole–only to start the whole viscious cycle over again. This process wasnt so evident after Reagan. But after Bush Jr. did the exact same thing in a very similar way (tax cuts for rich + military-industrial crony contracts), we might begin to ask whether or not this is an intentional practice of the republican party...