PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Nadine Carroll who wrote (129648)	2/28/2001 12:46:33 PM
From: Neocon	Read Replies (1) of 769670

As you said, you are not entitled to your own facts: National Debt. The national debt (public debt) in real 1987 dollars doubled from $1,004 billion in 1981 to $2,028 billion in 1989. As a share of GDP, the debt increased from 27 percent to 42 percent, as shown in Figure 7. In the 1990s the debt has risen to 52 percent of GDP.[This as of '95]. The rise in the national debt in the 1980s was large and has imposed significant repayment costs on future generations. cato.org President Reagan entered the White House with an attitude of working honest deals with the Congress on spending. He wanted more defense spending, lower entitlement spending, lower tax rates which would boost the economy (and thus revenues) and seemed to achieve that agreement with Congress in both 1981 and 1982. However, despite getting concessions on taxes, congress never once cut spending, and the actual budgets were higher than what Reagan asked for 7 out of 8 years. This attitude of "cut spending later" helped continue the debt trends that began under Ford and Carter. By the end of Reagans terms, debt had increased by $2 trillion. reagan.webteamone.com

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