Originally Posted by pepperoni
I'm afraid that it's been going on for longer than that, which is why the suffering will also continue for a long time. I remember my visit to NY in the 90's and seeing this:
The NYC National Debt Clock
The history of the NYC national debt clock:
Invented and bankrolled by New York real estate developer Seymour Durst, the 11-by-26 foot National Debt Clock was erected in 1989. When it first was plugged in, the odometer-style clock whirred furiously as the national debt rose by $13,000 a second. Often the last few digits increased so fast they were just a blur. And at one point in the mid-1990s, the debt was rising so fast the clock’s computer crashed.
Under the presidency of Bill Clinton and a push for a balanced budget, though, the clock started ticking in the opposite direction, shaving off roughly $30 a second towards the turn of the century. Durst’s son felt that was “sending the wrong message at [that] point” and the clock was shut down untiul 2002 when the fiscal conservative administration (tongue planted firmly in cheek) of George W. Bush reversed course and brought meaning back to the ticker.