Pre-Election Special11/01/10 Robert Lorei
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Good afternoon, I'm Rob Lorei.
Today we're going to talk about politics and tomorrow's elections. Later we'll hear reports about Hometown Democracy and the possible end to public financing of camapigns. We'll also open up the phone lines.
But first- the growing national debt is a big issue this election. It's motivating many people to vote against political allies of President Obama. But which president's did the most to increase federal deficits and which did the most to keep it under control. Our guest is Richard Barrett a retired economics professor from the University of Montana. Barrett and a fellow economist, Steven Stoft have done a study of the last six presidential administrations (including Obama) to determine which presidents raise the national debt the most. Their report can be found at http://www.zfacts.com. Barrett and Stoft found that since 1978 the Democratic administrations had presided over a $2.1 trillion increase in the national debt (in constant dollars) and the Republican administrations were responsible for a $9.1 trillion dollar increase. Barrett joins us right now.