Where does the US National Debt come from? The New York Times had a good article a couple weeks back that analyzed the sources of the debt. It only starts after Clinton left office (presumably to make Bush look worse), but it’s still an interesting take. Here are the categories. Before looking, take a minute and guess at the proportions. (It should add up to 100%).
- The business cycle
- Bush-era legislation “like his tax cuts and the Medicare prescription drug benefit”.
- Obama’s extension of several Bush policies, like the Iraq war and tax cuts for households making less than $250,000.
- Obama’s stimulus bill.
- Obama’s agenda on health care, education, energy and other areas.
The correct answers are after the jump.