- Joined
- Jan 25, 2010
- Messages
- 30,734
- Reaction score
- 15,050
- Gender
- Undisclosed
- Political Leaning
- Undisclosed
If Reagan's spending was paid for by tax revenue increase's the deficit would not have increasedMuch of what you posted here I agree with and that is why I now support term limits for our politicians who are the ones that spend the money. Reagan's spending was paid for by tax revenue increases caused by the creation of jobs. that is Reaganomics.
The Reagan admin increased the size of government, and left a higher debt load then did Carter.Obama doesn't understand that and is growing the size of the govt. After the Carter years Reagan took over an economy much worse than we have today. That Reagan debt that you claim was caused by a Democrat Controlled House that saw the doubling of revenue and acted like a kid in a candy store. Reagan set a record for vetoes but that wasn't enough. Much of the spending was attached to tax legislation and the military spending that left us with a peace dividend.
Looking back that Reagan deficit of 1.7 trillion dollars was manageable. The total debt was 2.6 trillion, it is over 12 trillion today and is projected at 21 trillion at the end of the Obama Administration. Reaganomics works but not with career politicians who spend to keep their jobs and bring home the bacon for their constituents and a contituent group who believes it is the Government's responsibility to protect them from poor personal choices.
Reaganomic's is just a different version of Keynsian economics