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Politics : Formerly About Advanced Micro Devices
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To: Scumbria who wrote (130814)1/26/2001 1:41:16 PM
From: combjelly   of 1581620
 
"During the 80's we went $5 trillion in debt, and it was described as Reagan's economic miracle. "

I was amused at one point during the Reagan administration they were crowing about the job creation that had occurred up to that point. I calculated that if they had taken the money that the went into the deficit, they could have just paid that money out to each of the jobs created and it would have amounted to payments of $20k per year per job. And that would have been the case only if those people had been paid the day Reagan took office, in reality it was more or less an linear ramp and thus, would have cost half of that. Since a fair percentage of the jobs created were low-wage service jobs, $20k per year would have been an improvement. With that kind of money, it should have stimulated the economy, it would have been a serious problem if it had not.
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