incorrect. deficit spending hampered him the economy in his later years - as he himself acknowledged. that's why he made his "i'll raise a dollar of taxes for every three you cut" deal with the Democrats.... only to get suckered into going first. Reagan achieved the growth he did by breaking inflation, restoring the dollar, deregulation, and reducing tax rates.Reagan pulled us out of his recession by massive deficit spending and deregulation.
The S&L crises was not the result of deficit spending - but it is instructive. Because Reagan's response was basically to do nothing.... now, compare that recovery to the one we are currently enjoying and ask yourself which one you think appears to have come from a wiser policy.That led to the Savings and Loan crisis and 180 billion bailout. Historical record.
and the sky would have fallen and aliens would have invaded and the 13th Imam would have rode in and slain us all in the streets, yes, i know, i remember the press releases from the time. It was all crap, mind you - you could maybe make a case for TARP (though altering the mark-to-market rules would have saved the banks the vast majority of their losses and perhaps made it uneccessary); but the Stimulus? it was nothing more than a grab-bag of democratic goodies, pork they had wanted but not been able to shove through for 20 years.Bush's meltdown was closer to a depression. The entire banking and housing sectors were on the verge of total ruin. Had the government done nothing the entire country would have collapsed.