Ronald Reagan came into office with a national debt of less than $1 trillion. Mostly by cutting taxes on the rich, he grew that debt to $2.6 trillion. George H.W. Bush broke his “no new taxes” pledge, but it wasn’t enough to keep the debt from ballooning another 50 percent, to $4.2 trillion.
Bill Clinton’s aggressive budget balancing slowed the growth rate a bit: eight years later, he left office with a debt of $5.7 trillion—and a tight budget in place that, if followed, would have paid whole thing off by 2006. Unfortunately, George W. Bush had no intention of following through with Clinton’s plan: on his watch, the debt nearly doubled, from $5.7 to $10.6 trillion. So, nearly 80 percent of the current debt—about which conservatives now complain—was acquired on the watch of the three most recent conservative Presidents.
Via [OurFuture.org]