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The New Joe Montgomery Birther Pit / Re: Mainstream Economics Thread
« Last post by IPA4Me on Today at 06:31:01 AM »Do you think the policy makers have the intestinal fortitude to let things unwind a bit more to get at least to 80%? We barely bounced at 90% two years ago.Anyone know which presidents the debt increased the most under?
In terms of Debt to GDP ratio, Barack Obama and Joe Biden.
Actually, I don't know what I was thinking. The answers are Barack Obama and Donald Trump. I was off by one year due to the election being in 2020, but Biden not taking office until 2021. George W. Bush would probably be third on this list.
The drivers of the increase in Debt to GDP ratio were the fiscal policy responses to the financial crisis of 2008 and COVID.
This is just looking at the time period since 1970. If you want to go back further, the Civil War, WW I, the Great Depression and WW II were also big drivers of an increase in the Debt to GDP ratio.