OldTrapper
Well-Known Member
I suppose in your superior way of thinking , Reagan's increases in National Debt had nothing to do with the abysmal condition the country was in before he took office.
But you won't say the same for Obama, now will you?
Showing an increase in public debt doesn't show the whole picture either. Under Reagan he lowered the high tax rate from 70% to 28%.
He reduced nondefense discretionary spending, added 20 million new jobs and lowered double digit unemployment to 5%. The economy grew by a third, he restrained the anti inflation monetary supply, reduced regulations, strengthening the dollar and reducing inflation to 3%.
And while he did that in his first term, by the second term he saw the deficit growing, and eliminated the tax loopholes for the wealthy (can you see the Republicans agreeing to that), and it wasn't 28%, it was 50%. Bush43 did the 28% gambit.
http://www.bloomberg.com/news/2011-08-16/why-reagan-raised-taxes-and-we-should-too-echoes.html
Reagan did double defense spending, bringing our tired military from a post WWII, Viet Nam worn out one, into a new technological era, that we enjoy today. Which also helped to end the cold war.
You didn't read the article I posted about the myths of the Reagan economy, did you.
Also, don't discount the fact that the Democrats controlled the House for six years of Reagan's presidency and then they controlled both houses for the last two years.
And Republicans have controlled the House for 2 years of Obama's first 4, and now 2 of his next 4, and used the filibuster to hamper the Senate just as Reid has used his position to prevent actions from occurring. Also, the Republicans controlled both Houses for the majority of the years under Clinton, and Bush43, and we got what?
VietNam was an illegal war too.