Having looked at the numbers on past performance I've been interested to see the current debate on which candidate has an economic plan to turn the US around - an item of not academic interest to most of us out in the global economy...
I found an interesting article at the Washington Post that looks at their plans and their ability to deliver.. it included this quote:
"Austan Goolsbee, who advises Democratic candidate Barack Obama, said McCain had consistently called for balancing the budget without explaining how he would do so." ...which given the numbers seems a pretty fair criticism.
In the 12 years under Democratic presidents since Jimmy Carter the American gross national debt rose by an average 5.3% per year for a compounded increase of 87%(!) ...but in eighteen years with Republican predidents it rose an average of 11.2% per annum - compounding to a huge 679% increase...
So I ask you.. just how likely is it the McCain is your man to get a grip on US finances???
Tuesday, 21 October 2008
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