{"id":13225,"date":"2011-05-02T23:53:46","date_gmt":"2011-05-03T06:53:46","guid":{"rendered":"http:\/\/www.amptoons.com\/blog\/?p=13225"},"modified":"2011-05-02T23:53:46","modified_gmt":"2011-05-03T06:53:46","slug":"where-the-debt-came-from","status":"publish","type":"post","link":"https:\/\/amptoons.com\/blog\/?p=13225","title":{"rendered":"Where the debt came from."},"content":{"rendered":"<p>From <a href=\"http:\/\/www.pewtrusts.org\/uploadedFiles\/wwwpewtrustsorg\/Fact_Sheets\/Economic_Policy\/drivers_federal_debt_since_2001.pdf\">The Great Debt Shift<\/a>, from the non-partisan Pew Charitable Trusts:<\/p>\n<blockquote><p>In January 2001, the Congressional Budget Office (CBO) projected under a current law baseline that the federal government would erase its debt in 2006. By 2011, the U.S. government would be $2.3 trillion in the black. <\/p>\n<p>The reality, of course, has turned out to be far different: the U.S. will likely owe $10.4 trillion this year, its largest debt relative to the economy since 1950. <\/p>\n<p>What caused this $12.7 trillion shift?<\/p><\/blockquote>\n<p><a href=\"http:\/\/www.amptoons.com\/blog\/wp-content\/uploads\/2011\/05\/pew-great-debt-fig-2.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.amptoons.com\/blog\/wp-content\/uploads\/2011\/05\/pew-great-debt-fig-2.png\" alt=\"\" title=\"pew-great-debt-fig-2\" width=\"550\" height=\"683\" class=\"aligncenter size-full wp-image-13227\" srcset=\"https:\/\/amptoons.com\/blog\/wp-content\/uploads\/2011\/05\/pew-great-debt-fig-2.png 550w, https:\/\/amptoons.com\/blog\/wp-content\/uploads\/2011\/05\/pew-great-debt-fig-2-442x550.png 442w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.amptoons.com\/blog\/wp-content\/uploads\/2011\/05\/pew-great-debt-fig-1.png\" alt=\"\" title=\"pew-great-debt-fig-1\" width=\"500\" height=\"691\" class=\"aligncenter size-full wp-image-13228\" srcset=\"https:\/\/amptoons.com\/blog\/wp-content\/uploads\/2011\/05\/pew-great-debt-fig-1.png 500w, https:\/\/amptoons.com\/blog\/wp-content\/uploads\/2011\/05\/pew-great-debt-fig-1-397x550.png 397w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From The Great Debt Shift, from the non-partisan Pew Charitable Trusts: In January 2001, the Congressional Budget Office (CBO) projected under a current law baseline that the federal government would erase its debt in 2006. By 2011, the U.S. government &hellip; <a href=\"https:\/\/amptoons.com\/blog\/?p=13225\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-13225","post","type-post","status-publish","format-standard","hentry","category-economics-and-the-like"],"_links":{"self":[{"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/13225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13225"}],"version-history":[{"count":2,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/13225\/revisions"}],"predecessor-version":[{"id":13230,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/13225\/revisions\/13230"}],"wp:attachment":[{"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amptoons.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}