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Politics : American Presidential Politics and foreign affairs
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To: Peter Dierks who wrote (13203)10/16/2006 1:07:19 AM
From: RMF  Read Replies (2) of 71588
 
"Reagan created a booming economy"

Did he "really create" a booming economy or did he just CRUSH an economy through draconian economic policies and then take credit for the recovery from near death?

The only DEPRESSION years we've had since the 1930's were the first couple years of the Reagan Presidency.

If a President starts out with 22% interest rates and very tight monetary policy, then there's NO where to go from there but UP. If he then throws in TAX CUTS and unprecedented deficit spending, then you're gonna see some BOOM in the economy.

The thing is that when Reagan was running for President he talked about how EGREGIOUS our deficits were. Our National debt was a TRILLION dollars and he even pointed out how that many dollars could reach to the moon and back. He was going to end that poor fiscal conduct. He DIDN'T. He turned POOR FISCAL CONDUCT into the STANDARD.

That's why, when Cheney was asked about deficits, he said, "Reagan proved that deficits don't matter".

Deficits DO MATTER to ME and a lot of other people that think that responsible people pay their debts and don't just let them pile up.

Today...my tax dollars are as likely to go for INTEREST PAYMENTS as NATIONAL DEFENSE. I find that obscene.
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