On Sun, Oct 28, 2012 at 2:54 PM, Paul Tanner <firstname.lastname@example.org> wrote:
> First, the US became the biggest > debtor in the world under Reagan, after > he conned so many with the conservative > lie that lower tax rates cause government > revenues to increase over and above what > they would have been with the higher rates. (Adjusted for inflation > revenues went up > around 17% under Reagan, but were > projected to go up roughly twice that > had the tax rates stayed the same.) >
Are you talking in absolute dollar terms or as a percent of GDP or what? In absolute terms, many nations will barely register just because they're so small, even if they're drowning in debt, as you know.
I do think we should talk plenty about money in STEM class and the machinery of interest. Euler's number e comes up in the study of compound interest for example.
A lot of students confuse the deficit with the debt and believe that the debt was briefly replaced by a surplus during the Clinton Era. In actuality the debt has never been less than zero in their lifetimes.
I allude to this surplus in this old political cartoon I did long ago: