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Comment by secabeen | Hacker News Reader

What do you specifically see? I see two big increases in debt, both due to shocks (the 08 financial crisis, and the pandemic; one under Obama, and one under Trump.). Pre 2008, it does look like moderate increases under Reagan/Bush1 and Bush 2, and flat to decrease under Clinton, is that what you mean?

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Yes, that's roughly what I see. The bottom of the Y axis on this graph is 30% which can be a little deceptive. It looks to me like Clinton and Obama had a terrible challenge in bringing this under control following the early 1980s and the 2008 financial crises and they did what they could, and then there is also Reaganomics. It just looks so hopeless because this figure is as high as it was following the war. Now Biff Tannen's in the White House, and he'll be knocking down walls. I don't think the system was meant to handle human greed on this scale.

> I don't think the system was meant to handle human greed on this scale.

It was held together by decorum. There is none left.

The 2008 crisis happened under Bush, not Obama. Obama was inaugurated on January 20th, 2009.

Not only was Obama not inaugurated until 2009, but the Great Recession began in 2007, so tying it to Obama because it is popularly associated with 2008 and Obama was elected towards the end of that year is...doubly wrong.

I'm also certain some folks believe Biden was President during the start of COVID-19 in the US too. (Jan 2020.)

It seems to be a pattern, where a disturbingly-large minority of people remember nothing but the year-number of an election (e.g. "2008") and never account for how voting was at the end of that year and the voting-result only takes effect the next (odd-numbered) year.

Oh, there's also a general "I want it to be true so I remember it that way" aspect, but I think that's contributory rather than the main cause.

> I see two big increases in debt

I recommend the surplus/deficit by GDP graph, which is easier than manually eyeballing slopes: https://fred.stlouisfed.org/series/FYFSGDA188S

> What do you specifically see?

1942-1945: Big increase to pay for fighting/winning a World War

1946-2007: More or less fiscally responsible

2008-present: War-like level of debt increase to counteract a down business cycle?

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