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Wars and depressions largely characterize the periods of time where there have been significant run-ups in the level of the
U.S. National Debt Burden per Capita [i.e. the U.S. National Debt Burden per Capita-to-income Index], with the debt taken on to support the costs of the U.S. Civil War and World War II being the most significant. Today… it is perhaps most comparable to the Great Depression. [Take a look.] Words: 326
So says Craig Eyermann (www.mygovcost.org) which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited ([ ]), abridged (…) and reformatted below for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Eyermann goes on to say, in part:
Throughout all this time the National Debt Burden per Capita has only fallen when the United States government curtailed its elevated level of spending. Typically, that has been solely the result of spending cuts following periods of conflict, rather than tax increases. Before 1913, there was no income tax in the United States, yet the federal government in those days succeeded in lowering the National Debt Burden per Capita primarily by shrinking government spending after running up debt and instead encouraging economic and population growth. That may be a lesson that today’s politicians can well afford to learn…
Finally, let’s see what is in store for the future, if the U.S. continues on its current path:
*http://www.mygovcost.org/2011/11/04/the-u-s-national-debt-burden-per-capita/
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