Regardless of your opinion on the manner in which it was accrued, it went to the support of various activities of the government. Now, the question is, was Reagan righter about pushing his defense buildup than the Democrats were in resisting cuts in domestic spending? If you are a Republican, the answer is that Reagan was in the right on the spending side of the budget, and therefore the Democrats were at fault for the magnitude of the deficits.
If it is objected that Reagan did not have to cut marginal rates, well, again, if you are a Republican, it was worthwhile regardless of the accrual of deficits. Indeed, as I suggested before, the accrual of deficits had a very salutary impact, by limiting further government spending....... |
