Reagan's economic "recovery" was financed by hot checks--as Sen. Hollings correctly stated, we can all have a hell of a party if we're gonna pay for it with rubber checks...
Clinton entered office during a boom? Funny, as I remember it, the federal deficits were 200 billion dollars plus every year, and the main reason that Clinton beat Bush was because folks were pissed that Bush had totally mismanaged the economy ("it's the economy, stupid," as my hero, James Carville, used to say). Clinton's 1993 "tax increase," as you put it, was almost entirely on rich folks, and is why we had (past tense, alas) a golden time where the deficits were turned into surpluses... |
