--- title: "Meaning & Key Takeaway of: It took the national debt two hundred…" description: "\"It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve year..." image: "https://sms4smile.com/quotes/i/90e/ed-schultz-8984_bills_it-took-the-national-debt-two-hundred-ye_994144.jpg" --- # It took the national debt two hundred years to reach $1… ![“It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest…” quote by Ed Schultz](https://sms4smile.com/quotes/i/90e/ed-schultz-8984_bills_it-took-the-national-debt-two-hundred-ye_994144.jpg) [Download](https://sms4smile.com/quotes/i/90e/ed-schultz-8984_bills_it-took-the-national-debt-two-hundred-ye_994144.jpg) [Open image](https://sms4smile.com/quotes/i/90e/ed-schultz-8984_bills_it-took-the-national-debt-two-hundred-ye_994144.jpg) > “It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest sustained economic expansion in U.S. History.” [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Fiscal policy choices dramatically affect national debt, with tax increases linked to economic growth and debt reduction, contrasting with supply‑side approaches. **In simple terms:** Tax policy influences debt and growth. Key Takeaway Consider tax policy for growth. Themes economics public finance policy debt Mood analytical serious Type political educational When to use this quote - political debate - economic analysis - public speeches Key Concepts fiscal responsibility taxation economic cycles Questions to Reflect On - What balance of tax and spending best supports growth? - How do political ideologies shape fiscal decisions? A Different Perspective Supply‑side policies can increase debt. ★ ★ ★ ★ ★ No ratings yet [Economics](https://sms4smile.com/quotes/about/economics/) [National debt](https://sms4smile.com/quotes/about/national-debt/) [Republican](https://sms4smile.com/quotes/about/republican/) [Supply side economics](https://sms4smile.com/quotes/about/supply-side-economics/) [Taxes](https://sms4smile.com/quotes/about/taxes/) ## Related quotes > [A responsible government does not triple the national debt in eight years.](https://sms4smile.com/quotes/daniel-patrick-moynihan/a-responsible-government-does-not-triple-the-national-debt-in-eight/) [Daniel Patrick Moynihan](https://sms4smile.com/quotes/author/daniel-patrick-moynihan/) > [When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national…](https://sms4smile.com/quotes/barack-obama/when-george-bush-came-into-office-we-had-surpluses-and-now-we-have/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [ The problem is that the way \[President\] Bush has done it over the last eight years is to take out a credit card from… ](https://sms4smile.com/quotes/barack-obama/the-problem-is-that-the-way-president-bush-has-done-it-over-the-last/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [Ultimately, we can't just keep doubling our national debt every eight years. We have got to get that under control and not spend more…](https://sms4smile.com/quotes/ron-estes/ultimately-we-can-t-just-keep-doubling-our-national-debt-every-eight/) [Ron Estes](https://sms4smile.com/quotes/author/ron-estes/) > [“The assistant director of the Office of Economic Opportunity, Hyman Bookbinder, in a frank statement on December 29, 1966, declared that the long-range costs…](https://sms4smile.com/quotes/martin-luther-king-jr-2/the-assistant-director-of-the-office-of-economic-opportunity-hyman/) [Martin Luther King Jr](https://sms4smile.com/quotes/author/martin-luther-king-jr-2/) > [Congratulations to Obama! He's now increased the debt more in three years than George W. Bush did his entire eight year presidency. But all…](https://sms4smile.com/quotes/frank-j-fleming/congratulations-to-obama-he-s-now-increased-the-debt-more-in-three/) [Frank J. Fleming](https://sms4smile.com/quotes/author/frank-j-fleming/) > [ Independent experts have looked at what I've proposed and looked at what Donald's \[Trump\] proposed, and basically they've said this, that if his tax… ](https://sms4smile.com/quotes/hillary-clinton/independent-experts-have-looked-at-what-i-ve-proposed-and-looked-at/) [Hillary Clinton](https://sms4smile.com/quotes/author/hillary-clinton/) > [It's kind of hard to sell 'trickle down,' so the supply-side formula was the only way to get a tax policy that was really…](https://sms4smile.com/quotes/david-stockman/it-s-kind-of-hard-to-sell-trickle-down-so-the-supply-side-formula-was/) [David Stockman](https://sms4smile.com/quotes/author/david-stockman/) > [I didn't wake up one day and say, you know, 'Supply-side economics doesn't make sense.](https://sms4smile.com/quotes/david-brock/i-didn-t-wake-up-one-day-and-say-you-know-supply-side-economics-doesn/) [David Brock](https://sms4smile.com/quotes/author/david-brock/) > [ The only truly new ideas \[the right\] has come up with in the last twenty years are (1) supply side economics, which is a… ](https://sms4smile.com/quotes/barbara-ehrenreich/the-only-truly-new-ideas-the-right-has-come-up-with-in-the-last/) [Barbara Ehrenreich](https://sms4smile.com/quotes/author/barbara-ehrenreich/) > [People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.](https://sms4smile.com/quotes/john-kenneth-galbraith/people-of-privilege-will-always-risk-their-complete-destruction/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [What the issue here is, you get rid of all the conservative orthodoxy about capital gains, marginal tax rate, supply side economics, you just…](https://sms4smile.com/quotes/chris-hayes/what-the-issue-here-is-you-get-rid-of-all-the-conservative-orthodoxy/) [Chris Hayes](https://sms4smile.com/quotes/author/chris-hayes/) > [As the Wall Street Journal called our economic plan, supply-side economics for the working man, is resonating in Minnesota and here in Missouri and…](https://sms4smile.com/quotes/rick-santorum/as-the-wall-street-journal-called-our-economic-plan-supply-side/) [Rick Santorum](https://sms4smile.com/quotes/author/rick-santorum/) > [Trickle-down economics - it didn't work. The whole idea was supply-side economics: give rich people a lot of money; they'll spend it, it'll go…](https://sms4smile.com/quotes/greg-fitzsimmons/trickle-down-economics-it-didn-t-work-the-whole-idea-was-supply-side/) [Greg Fitzsimmons](https://sms4smile.com/quotes/author/greg-fitzsimmons/) > [Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant…](https://sms4smile.com/quotes/john-kenneth-galbraith/mr-david-stockman-has-said-that-supply-side-economics-was-merely-a/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) ## More by Ed Schultz > [This is what the Republican party stands for, though: racism.](https://sms4smile.com/quotes/ed-schultz/this-is-what-the-republican-party-stands-for-though-racism/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [Nothing replaces hard work. The harder you work, the luckier you get.](https://sms4smile.com/quotes/ed-schultz/nothing-replaces-hard-work-the-harder-you-work-the-luckier-you-get/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [Nobody is going to tell Ed Schultz what to say.](https://sms4smile.com/quotes/ed-schultz/nobody-is-going-to-tell-ed-schultz-what-to-say/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [I've always viewed the 'Ed Show' as being a voice for the voiceless.](https://sms4smile.com/quotes/ed-schultz/i-ve-always-viewed-the-ed-show-as-being-a-voice-for-the-voiceless/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [The Left has been frustrated because President Obama has allowed the Republicans to run all over him.](https://sms4smile.com/quotes/ed-schultz/the-left-has-been-frustrated-because-president-obama-has-allowed-the/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [I think you can be in disagreement with a president you support without being disrespectful or nasty or snide.](https://sms4smile.com/quotes/ed-schultz/i-think-you-can-be-in-disagreement-with-a-president-you-support/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [I'm not prepared to be governor of New York. I'm a radio guy; I do a radio show. A radio show is entertainment. You…](https://sms4smile.com/quotes/ed-schultz/i-m-not-prepared-to-be-governor-of-new-york-i-m-a-radio-guy-i-do-a/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [They ought to be focused on saving healthcare. They ought to be focused on making sure we don't privatize Medicare, Medicaid, and Social Security.…](https://sms4smile.com/quotes/ed-schultz/they-ought-to-be-focused-on-saving-healthcare-they-ought-to-be/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [I was pretty much a warmonger and a pretty greedy guy. I always wanted to make as much money as I possibly could and…](https://sms4smile.com/quotes/ed-schultz/i-was-pretty-much-a-warmonger-and-a-pretty-greedy-guy-i-always-wanted/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [I'm conservative on some issues. I'm progressive on most.](https://sms4smile.com/quotes/ed-schultz/i-m-conservative-on-some-issues-i-m-progressive-on-most/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [Sometimes, when I open my mouth, all hell breaks loose. Other times, I feel like a voice in the wilderness and I wonder, 'Does…](https://sms4smile.com/quotes/ed-schultz/sometimes-when-i-open-my-mouth-all-hell-breaks-loose-other-times-i/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [If I lived in Massachusetts, I'd try to vote ten times ... Yeah that's right, I'd cheat to keep these bastards out. I would.…](https://sms4smile.com/quotes/ed-schultz/if-i-lived-in-massachusetts-i-d-try-to-vote-ten-times-yeah-that-s/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [I'm prairie-dwelling, pro-union, pro-health care, and pro-education.](https://sms4smile.com/quotes/ed-schultz/i-m-prairie-dwelling-pro-union-pro-health-care-and-pro-education/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [Not to get too grandiose about it, but I really believe I'm saying things a lot of Americans want someone to say.](https://sms4smile.com/quotes/ed-schultz/not-to-get-too-grandiose-about-it-but-i-really-believe-i-m-saying/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) > [When union membership goes down, so do wages.](https://sms4smile.com/quotes/ed-schultz/when-union-membership-goes-down-so-do-wages/) [Ed Schultz](https://sms4smile.com/quotes/author/ed-schultz/) [Explore all 76 Ed Schultz quotes ](https://sms4smile.com/quotes/author/ed-schultz/) ## More Bills quotes > [If you’re a person struggling to eat and stay healthy you might have heard about Michael Jordan or Muhammad Ali, but you’ll never have…](https://sms4smile.com/quotes/bill-gates/if-you-re-a-person-struggling-to-eat-and-stay-healthy-you-might-have/) [Bill Gates](https://sms4smile.com/quotes/author/bill-gates/) > [Some of the folks on both sides might be sincere, but it does seem as if it is only the opposition that cares about…](https://sms4smile.com/quotes/james-bovard/some-of-the-folks-on-both-sides-might-be-sincere-but-it-does-seem-as/) [James Bovard](https://sms4smile.com/quotes/author/james-bovard/) > [ \[Sport officials\] blocked their support of us. But those individuals \[ Muhammad Ali, the Jim Browns, the Bill Russells, Kareem Abdul Jabbar \] were… ](https://sms4smile.com/quotes/john-carlos/sport-officials-blocked-their-support-of-us-but-those-individuals/) [John Carlos](https://sms4smile.com/quotes/author/john-carlos/) > [Simple fairness dictates that government must not raise taxes on families struggling to pay their bills.](https://sms4smile.com/quotes/ronald-reagan/simple-fairness-dictates-that-government-must-not-raise-taxes-on/) [Ronald Reagan](https://sms4smile.com/quotes/author/ronald-reagan/) > [ \[A\]s you partake of the world's bill of fare, that's darned good advice to follow. Do a lot of spitting out the hot air.… ](https://sms4smile.com/quotes/dr-seuss/a-s-you-partake-of-the-world-s-bill-of-fare-that-s-darned-good-advice/) [Dr. Seuss](https://sms4smile.com/quotes/author/dr-seuss/) > [ I will not agree to have this bill \[to repeal DADT \] go forward, because our economy is in the tank. ](https://sms4smile.com/quotes/john-mccain/i-will-not-agree-to-have-this-bill-to-repeal-dadt-go-forward-because/) [John McCain](https://sms4smile.com/quotes/author/john-mccain/) > [This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in…](https://sms4smile.com/quotes/michael-hudson/this-is-not-really-currency-that-circulates-it-s-like-the-old-joke/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [If Bill Gates left Microsoft we wouldn't allow Donald Trump to run it.](https://sms4smile.com/quotes/will-i-am/if-bill-gates-left-microsoft-we-wouldn-t-allow-donald-trump-to-run-it/) [will.i.am](https://sms4smile.com/quotes/author/will-i-am/) > [Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward…](https://sms4smile.com/quotes/suze-orman/your-goal-should-be-to-pay-off-your-credit-card-bills-in-full-at-the/) [Suze Orman](https://sms4smile.com/quotes/author/suze-orman/) > [He's fat and a clown, Bill, a fat clown for all to see.](https://sms4smile.com/quotes/eamon-dunphy/he-s-fat-and-a-clown-bill-a-fat-clown-for-all-to-see/) [Eamon Dunphy](https://sms4smile.com/quotes/author/eamon-dunphy/) > [There's nothing nice about Steve Jobs and there's nothing evil about Bill Gates](https://sms4smile.com/quotes/chuck-peddle/there-s-nothing-nice-about-steve-jobs-and-there-s-nothing-evil-about/) Chuck Peddle > [At first I thought, if I were Superman, a perfect secret identity would be "Clark Kent, Dentist," because you could save money on tooth…](https://sms4smile.com/quotes/jack-handey/at-first-i-thought-if-i-were-superman-a-perfect-secret-identity-would/) [Jack Handey](https://sms4smile.com/quotes/author/jack-handey/) > [Whether it's people walking off 'The View' when Bill O'Reilly makes a statement about radical Islam or Juan Williams being fired for expressing his…](https://sms4smile.com/quotes/eric-cantor/whether-it-s-people-walking-off-the-view-when-bill-o-reilly-makes-a/) [Eric Cantor](https://sms4smile.com/quotes/author/eric-cantor/) > [The one thing the police cannot protect us from is a politician like Bill de Blasio.](https://sms4smile.com/quotes/bill-o-reilly/the-one-thing-the-police-cannot-protect-us-from-is-a-politician-like/) [Bill O'Reilly](https://sms4smile.com/quotes/author/bill-o-reilly/) > [Bill Hicks - blowtorch, excavator, truthsayer, and brain specialist. He will correct your vision. Others will drive on the road he built.](https://sms4smile.com/quotes/tom-waits/bill-hicks-blowtorch-excavator-truthsayer-and-brain-specialist-he/) [Tom Waits](https://sms4smile.com/quotes/author/tom-waits/) Browse all 2,663 Bills quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest sustained economic expansion in U.S. History.", "creator": { "@type": "Person", "name": "Ed Schultz" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/ed-schultz/it-took-the-national-debt-two-hundred-years-to-reach-1-trillion/", "about": { "@type": "Thing", "name": "Bills" }, "@id": "https://sms4smile.com/quotes/ed-schultz/it-took-the-national-debt-two-hundred-years-to-reach-1-trillion/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/90e/ed-schultz-8984_bills_it-took-the-national-debt-two-hundred-ye_994144.jpg", "contentUrl": "https://sms4smile.com/quotes/i/90e/ed-schultz-8984_bills_it-took-the-national-debt-two-hundred-ye_994144.jpg", "url": "https://sms4smile.com/quotes/i/90e/ed-schultz-8984_bills_it-took-the-national-debt-two-hundred-ye_994144.jpg", "width": 1080, "height": 1080, "caption": "“It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the…” — Ed Schultz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Ed Schultz", "item": "https://sms4smile.com/quotes/author/ed-schultz/" }, { "@type": "ListItem", "position": 4, "name": "It took the national debt two...", "item": "https://sms4smile.com/quotes/ed-schultz/it-took-the-national-debt-two-hundred-years-to-reach-1-trillion/" } ], "@id": "https://sms4smile.com/quotes/ed-schultz/it-took-the-national-debt-two-hundred-years-to-reach-1-trillion/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```