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FDR oversaw the largest increase in the national debt
TreasuryDirect ^ | June 21 2012

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


TOPICS: Chit/Chat; History
KEYWORDS: debt; fdr; national
The national debt increased by 1147% under FDR.
1 posted on 06/21/2012 8:12:01 AM PDT by moonshot925
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To: moonshot925

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?


2 posted on 06/21/2012 8:15:06 AM PDT by PGR88
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To: moonshot925

Yea, I wish we had held military spending firm from 1941-1945. Maybe the debt wouldn’t have skyrocketed

This is a silly opinion


3 posted on 06/21/2012 8:15:47 AM PDT by MadIsh32 (In order to be pro-market, sometimes you must be anti-big business)
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To: moonshot925
So 258 Billion is supposed to be bigger than Obama’s 5 Trillion?

This must be public school math.

4 posted on 06/21/2012 8:21:07 AM PDT by Gabrial (The nightmare will continue as long as the nightmare is in the White House)
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To: moonshot925

I’m not going to defend FDR’s social policies, but WWII was kind of expensive.


5 posted on 06/21/2012 8:21:32 AM PDT by bigdaddy45
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To: Gabrial

You know of course he’s talking about on a percentage basis, right? I assume then you went to public school...


6 posted on 06/21/2012 8:25:34 AM PDT by bigdaddy45
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To: bigdaddy45

“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.


7 posted on 06/21/2012 8:35:04 AM PDT by Eva
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To: PGR88

“Who bought all that debt?”

American citizens.

Less than 1% of the national debt was owned by foreigners in both 1933 and 1945.


8 posted on 06/21/2012 8:41:15 AM PDT by moonshot925
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To: PGR88

Much of it in War Bonds, i.e. you’re right ... Americans’ savings.


9 posted on 06/21/2012 8:43:34 AM PDT by katana (Just my opinions)
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To: bigdaddy45

Words have meaning.

The article title is blatantly incorrect.

It states “largest increase” not “largest percentage increase”.


10 posted on 06/21/2012 8:48:49 AM PDT by Gabrial (The nightmare will continue as long as the nightmare is in the White House)
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To: Gabrial

“So 258 Billion is supposed to be bigger than Obama’s 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.


11 posted on 06/21/2012 8:52:22 AM PDT by moonshot925
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To: moonshot925

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.


12 posted on 06/21/2012 9:36:13 AM PDT by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: moonshot925
FDR presided over the largest, longest running World War in history.
What kind of idiot comparison is that?

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.

13 posted on 06/21/2012 11:13:12 AM PDT by publius911 (Formerly Publius 6961, formerly jennsdad)
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To: publius911

“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.


14 posted on 06/21/2012 12:52:30 PM PDT by moonshot925
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