I’ve never heard of Dave Manuel before but he’s posting collections of interesting historical data about US gov deficits & surpluses (what’s that?) along with US debt balance and unemployment trends. This visually reveals how we’re entering historically uncharted water with very lengthy and steep upward trends. The problem (overspending) can be seen to start back in the 1970’s. It’s a bipartisan problem that voters can be blamed for allowing to happen through all administrations and spend-happy politicians since. Click the graphics or headlines below to see more all the data Manuel has published.
ps. Terms I see people misusing a lot:
- Deficit and surpluses are the result of the government spending more or less than it makes through taxes, fees/fines and investments.
- Debt is a negative book balance coming from more deficit years than surplus years. Ideally, we should have a cash balance, not a debt balance.