antagon
The Man
- Dec 6, 2009
- 3,572
- 295
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intrest rates, tax rates, ---flation: these were a mess before reagan took office, by '82, '83 they were smoothed out. we were feeling a good buzz economically, tax was lower by 30% or so. spending was reasonable... then ronny took another swig or two and fiscal policy went all voodoo.
ever since those golden years of his first term, hacks have been drunk with the idea that tax cuts and 'small' government are the end-all be-all of government in an economy, and promote them despite the resulting deficits and the corresponding public/private competition for investment dollars.
you can hear the recipe tumbling around in the progressaphobic's skull: well, if less could be better, none would be best! ... add hacked-up econ and half-bake as loudly as possible.
Reagan ALSO tripled our national debt...That always seems to be swept under the rug when touting how GREAT Reagan was.
That is because he was spending it all on the cold war. The USA is still here the USSR is gone. We won. It cost way too much but we won.
reagan definitely was running wild with deficit spending, mainly on tax relief, during his second term. his second round of cuts ignored the par of his earlier budgets. reagan was not afraid to deficit spend as a flaw, cold war or not.