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Politics : PRESIDENT GEORGE W. BUSH

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To: Scumbria who wrote (139074)4/18/2001 12:34:38 PM
From: Neocon  Read Replies (1) of 769667
 
After a recession in 1982, the economy picked up between 1983 to 1986, spurred largely by the tax cuts and deficit financing; on the strength of the economic rebound, the successful invasion of the Marxist-controlled island of Grenada, and his personal popularity, he defeated Democratic nominee Walter Mondale in 1984 by a landslide. Economic growth, however, remained relatively modest, although the rate of inflation dropped below 4% during his tenure. The tax cuts and the sharp increase in military expenditures resulted in a series of huge budget deficits and consequently more than doubled the size of the national debt.

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