Reagan - moved US from biggest creditor nation to biggest debtor


	Reagan - moved US from biggest creditor nation to biggest debtor

earnric

3-2-2007 5:26 PM

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politics, reagan

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/849752b5-997a-4bc2-95f5-5689bad0c8a3/5EBB1BA8-A5FF-41C3-89BD-3131DFA5F473/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://en.wikipedia.org/w/index.php?title=Ronald_Reagan&oldid=112079963" href="http://en.wikipedia.org/w/index.php?title=Ronald_Reagan&oldid=112079963" style="font-size: 11px;">en.wikipedia.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://en.wikipedia.org/w/index.php?title=Ronald_Reagan&oldid=112079963"><P>In order to cover Reagan' federal budget deficits, the <A title="United States" href="http://en.wikipedia.org/wiki/United_States">United States</A> borrowed heavily both domestically and abroad, and by the end of Reagan's second term the <A title="National debt" href="http://en.wikipedia.org/wiki/National_debt">national debt</A> held by the public rose from 26 percent of <A title="Gross Domestic Product" href="http://en.wikipedia.org/wiki/Gross_Domestic_Product">Gross Domestic Product</A> in <A title="1980" href="http://en.wikipedia.org/wiki/1980">1980</A> to 41 percent in 1989, the highest level since 1963. By 1988, the debt totaled $2.6 trillion. The country owed more to foreigners than it was owed, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. <SUP class="reference" id="_ref-21"><A title="" href="#_note-21">[23]</A></SUP></P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/5EBB1BA8-A5FF-41C3-89BD-3131DFA5F473/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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