The National Debt Since 1969

Since 1969, however, the national debt has grown dramatically each decade, as shown below:

• In the 1970’s, the national debt more than doubled, from $366 billion to $829 billion.
• In the 1980’s, the national debt more than tripled, from $829 billion to $2.9 trillion.
• In the 1990’s, the national debt almost doubled again, from $2.9 trillion to $5.6 trillion.
• In the 2000’s, the national debt is projected to more than doubleagain, from $5.6 trillion to $12.9 trillion (projected national debt at the end of fiscal year 2009).

Some will argue that it’s unfair to look at the history of the national debt in terms of raw dollars, because that doesn’t account for inflation or the growth of the economy.  However, even if you look at the national debt as a percentage of our nation’s GDP (gross domestic product), the debt is increasing at a staggering rate.  In 1969, the national debt was just 38% of GDP, but it was over 90% of GDP by the end of 2009, and is projected to grow to over 100% of GDP by 2011.

This uncontrolled growth of the national debt is simply unsustainable, and if the trend continues, the U.S. Government will be unable to meet its future obligations.  It’s imperative that we let our elected officials know how we feel about the federal government’s reckless borrowing and spending that is destroying the very foundation of our economy and our nation. Please contact your Congressman and Senators and tell them you oppose the uncontrolled growth in our national debt.

Posted via email from Global Politics