The National Debt of the United States, 1941 to 2008, 2d ed.
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About the Book
America’s debt is in the trillions—and yet, like those who worry about borrowing five dollars but not about their unaffordable mortgage, Americans fail to pay attention to this serious situation. The press hovers over annual budgets and the associated deficits (and rare surpluses), but pays little attention to the national debt and even less to the interest spent serving it. Federal politicians seem as powerless to control the debt as they are uninformed about its nature.
After tracing fluctuations in the finances of the country from its beginning until 1940, this book examines the administrations of the next 12 presidents (FDR through George W. Bush) and the annual budget deficits and interest expenses that fed the national debt. The startup debt of each administration is shown; then the change in debt through the end of the administration is analyzed to show what areas of government incurred overspending and how much was overspent. Also included are brief biographies of each president, and discussions of foreign and domestic situations, including judicial decisions and sociological changes, that affected fiscal policies and fueled the urge to overspend.
About the Author(s)
Retired CPA, corporate executive and management consultant Robert E. Kelly is an author and an award-winning journalist. He lives in Beverly, Massachusetts.
Robert E. Kelly
Format: softcover (6 x 9)
Bibliographic Info: tables, appendices, notes, bibliography, index
Copyright Date: 2008
Table of Contents
Foreword by Nelson K. Benton 1
1. Background 1789–1940 15
2. Franklin D. Roosevelt, 1941–1944 29
3. Franklin D. Roosevelt and Harry S Truman, 1945–1948 44
4. Harry S Truman, 1949–1952 55
5. Dwight D. Eisenhower, 1953–1956 68
6. Dwight D. Eisenhower, 1957–1960 81
7. John F. Kennedy and Lyndon B. Johnson, 1961–1964 95
8. Lyndon B. Johnson, 1965–1968 111
9. Richard M. Nixon, 1969–1972 127
10. Richard M. Nixon and Gerald R. Ford, 1973–1976 145
11. Jimmy Carter, 1977–1980 164
12. Ronald W. Reagan, 1981–1984 182
13. Ronald W. Reagan, 1985–1988 205
14. George H.W. Bush, 1989–1992 225
15. William J. Clinton, 1993–1996 247
16. William J. Clinton, 1997–2000 268
17. George W. Bush, 2001–2004 289
18. George W. Bush, 2005–2008 315
Chapter Notes 379
Book Reviews & Awards
“detailed…easily accessible…especially useful…abundant time-sequenced tables…recommended”—Choice; “every serious political activist should own a copy. A fascinating read, with everything you really need to know about the federal government in one compact place”—The Activist News.