By USDR
As the U.S. government nears its debt limit, a new analysis by the Joint Economic Committee staff shows that Congress, while under Democratic control, is responsible for 79% of the publicly-held U.S. government debt generated since World War II.
The debt analysis is based on party control of Congress, inflation adjusted and attributed equally for sessions when control of Congress is split.
U.S. Congressman Kevin Brady of Texas, the top House Republican on the Joint Economic Committee, stated:
“While holding the government’s purse strings, Democrats in Congress have racked up nearly 80% of the debt our government owes to the public in modern times. That doesn’t leave Republicans blameless, but clearly President Obama and his party bear the lion’s share of blame for indebting America’s families and children. Instead of walking away from bipartisan discussions and arrogantly demanding a blank check for more deficit spending, the President should be working with Republicans to end Washington’s spending addiction.”
While in full control of Congress, since 1947, Democrats generated 57% of the publicly held debt and another 22% while sharing control – totaling 79% since the end of World War II. Republicans generated a negative 1.1%, while controlling both chambers of Congress and 22% while sharing control, totaling 21%.
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