National Debt and Tax Revenue 1960 – 2011

 Democrats Controlled Congress from January 1950- January 1995 and from January 2007- January 2011 ….When reviewing these graphs, this should be REMEMBRED as it is CONGRESS who controls the purse strings, devises and passes BUDGET BILLS……….

**We should also note that the ONLY entity DEMANDED of Congress to fund, via the Constitution is DEFENSE. Not NPR, Not PBS, Not Planned Parenthood, Not UNIONS, Not Medicaid, Not Illegal Aliens, Not Dep of Education, Not Social Security, Not WIC, Not Food Stamps, Not Fannie/Freddie, Not GM, Not Chrysler, Not GE’s Green Initiative, etc…etc…etc..** 

 

 


 

 
 
The United States began with a substantial debt, the cost of the Revolutionary War. Under Alexander Hamilton’s funding system the debt was paid off by 1840. Government debt has typically peaked after wars. It breached 30 percent of GDP after the Revolutionary War, the Civil War, and World War I. It breached 100 percent of GDP in World War II. Government debt also breached 100 percent of GDP in the aftermath of the financial crisis of 2008
 
 
 
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