And as for your "Poor cannot create jobs" argument...sorry but that is just plain false. One of my best friends went from being poor to owning a company that continues to expand every year....she profits over $300k a year. In the not-so-distant future she will be profiting over a million a year. I guess you should talk to the people she employs if they have jobs or not.
In 1989, it was $5.6 trillion. Bush41 became president in January of that year.
The Reagan numbers go from $3.2 trillion in 1981 to $5.25 trillion in 1988. So not "from 2.8 trillion to 5.6 trillion," but rather from 3.2 to 5.25. Funny how ya got that wrong.
Unlike every macroeconomist in the world, you think inflation should be ignored. Nevertheless, I think it should be accounted for. When you look at real per capita GDP growth, Reagan's economy grew at 2.6% annually, while Obama's has grown at 2.1%.
The growth under Reagan resulted in large part from the trillions of (inflation-adjusted) dollars that were contained in federal deficits. Now Obama has had large deficits as well. But most of that money came from wars he didn't start and big tax cuts for the wealthy that he opposes. Moreover, yer not gonna get the same recovery form a financial crisis that you would from a business cycle recession.
The numbers just aren't there to validate yer claim that the Reagan economy was stronger than the one we've had under Obama.
>>You think Obama is a deficit hawk proposing a 3.9 trillion dollar budget?
Federal expenditures in FY2014 were $3.5 trillion. Spending has fallen under Obama. The FY2009 budget was almost all Bush's doing. The spending that Obama added was required to avoid a complete collapse of the economy. We'll see what the total for FY2015 ends up being. I know what you want cut — all those handouts to the black trash that are rioting in our streets.
>>BLS, BEA, and Treasury make you look foolish
Um, your anecdotal "friend" did not go to bed poor and wake up the next day "rich" without some level of capitalization in between. And I REALLY hope you are not going to go off on some distraction from your original point (which you keep getting further and further from) with an argument about upward mobility.And as for your "Poor cannot create jobs" argument...sorry but that is just plain false. One of my best friends went from being poor to owning a company that continues to expand every year....she profits over $300k a year. In the not-so-distant future she will be profiting over a million a year. I guess you should talk to the people she employs if they have jobs or not.
Trillions? Really? the entire economy was less than 3 trillion when he took office and the budget wasn't even a trillion dollars. Please research the Reagan stimulus and tell me how much spending was in that stimulus??
Then please learn how to use the quote function
Oh, by the way since you claim all the 2009 deficit was Bush's please tell me how he did that from October 2008 to January 21, 2009 and then show me the Bush signed 2009 budget?