175 years ago today

jan 8 1835 was the only time the US was Debt free.

Ouch. You'd think by this time we'd stop, you know, borrowing more...

also:

....Sargent Pepper taught the band to play...

Actually, it was 25 years ago today, that Sgt Pepper Taught the band to play.

Since that albium came out in '67, that would be another 32 years, or 57 years ago.

Yeah, I'm trying to avoid thinking about the US debt...its Friday, I don't want to be depressed.

tuna55 wrote: Ouch. You'd think by this time we'd stop, you know, borrowing more...

Why on earth would we think that? Politicians get votes by giving people free shwag. Unlike, say, every other person on the face of the earth, they don't have to pay for the shwag with their own money, or even have any money to begin with!

For a politician, there is absolutely NO percentage in reducing spending. None. Cutting spending and handouts costs you votes right now. Piling up massive federal debt costs you... nothing! Ever!

That's the date of the last time the US was debt free. It's not the only time the US was debt free.

Here's a good graph to put the debt into perspective:

I find this one interesting. It's especially galling to republicans who always insist they are the only fiscally responsible people and it's all the fault of democrats.

I always find is a bit funny when Reagan is hoisted up as a paramount of conservatism when it is clear by this graph (and all the defense spending I remember) that putting the US in dept was not a problem for him.

He talked the talk, but he didn't really walk the walk.

BTW the Clinton down turn is likely pretty much all the (false mostly) economy.

...They've been going in and out of style,

But there garenteed to raise a smile...

aircooled wrote: BTW the Clinton down turn is likely pretty much all the (false mostly) economy.

Interesting, Clinton budget based on 10 year bonds that were issued in 3rd thru 8th years, and started coming due on 5th year of Bush's term......Hmmmmm...how many more years til this gets under control? Any wagers the economy will improve 2 years after Bush is out of office?

foxtrapper wrote:

I posted that before..

But, It goes against what Glenn Beck et all are feeding us 24-7 so I was shouted down...