Skip to comments.FDR oversaw the largest increase in the national debt
Posted on 06/21/2012 8:11:51 AM PDT by moonshot925
On 30 June 1933 the national debt was 22,538,672,560.15
On 30 June 1945 the national debt was 258,682,187,409.93
Who bought all that debt?
Asia was poor and both Europe and Asia were at war. They couldn’t buy it. I think the Federal Reserve was much more conservative back then (certainly not like now!). Was it all funded through Americans’ savings?
Yea, I wish we had held military spending firm from 1941-1945. Maybe the debt wouldn’t have skyrocketed
This is a silly opinion
This must be public school math.
I’m not going to defend FDR’s social policies, but WWII was kind of expensive.
You know of course he’s talking about on a percentage basis, right? I assume then you went to public school...
“I assume then you went to public school ”
You just hit the nail on the head. That is exactly the problem, most of the voters did go to public school and are very poorly educated. Barack Obama gets it. Romney does not.
Daniel Henninger has an article in the WSJ about how Romney needs to get his vision of economic recovery across to the voters because Obama is doing just that, on a very basic level. Actually, Obama is not getting his message of economic reform across, except on an emotional basis. Obama’s message is, “Sock it to the rich guy.” “I want to give you, the people, some of what he’s got.” “Make everyone middle class.”
Romney thinks that he is telling people how he is going to spur growth, but people just don’t get it. The concept of investing is too far out of the experience of too many people. Even those with 401Ks, just delegate a portion of their salaries to go into various funds, or the money market.
“Who bought all that debt?”
Less than 1% of the national debt was owned by foreigners in both 1933 and 1945.
Much of it in War Bonds, i.e. you’re right ... Americans’ savings.
Words have meaning.
The article title is blatantly incorrect.
It states “largest increase” not “largest percentage increase”.
“So 258 Billion is supposed to be bigger than Obamas 5 Trillion?”
It is best to go by the percentage increase or the increase in debt-to-GDP ratio. Obama is a big spender, but he doesn’t compare with FDR.
Seeing that he died April 12, 1945, not all that debt is attributable to him.
Further I am sure Obama is working to try to beat it.
It really means nothing though compared to how much more the debt is now. This one guy has increased the debt by more than all the first 40 presidents combined.
FDR committed many unconstitutional moves that he can be blamed for.
This isn't one of them.
The US bore the brunt of the financial cost of that war.
“FDR presided over the largest, longest running World War in history.
What kind of idiot comparison is that?”
I think President Truman and the Republican Congress did a good job a cleaning up the war debt
They balanced the budget in 1947, 1948, 1949, 1951 and 1952
On 30 June 1953 the national debt was 266,071,061,638.57
It had only increased by $7 Billion in the 8 years of President Truman.