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Politics : American Presidential Politics and foreign affairs
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To: RMF who wrote (17972)2/22/2007 10:58:52 AM
From: TimF  Read Replies (1) of 71588
 
There is no "deficit death spiral". Deficits should reasonably be considered as a percentage of a GDP. By that measure current deficits, and to a great extent Reagan's deficit, are too high for my taste but don't even approach anything resembling a death spiral. And Reagan helped bring about a situation where less money could be spent on defense (much less as a percentage of GDP), and his tax cuts and deregulation helped bring about favorable changes in the economy that also helped future presidents.

WHAT "peace dividend"?

The military shrunk to a very great extent under Clinton. Arguably Clinton went too far, but it was reasonable to shrink the military because the cold war had ended.

Even with the current war in Iraq we are spending less of our economy on defense than we did during the cold war.

For longer term, and as a percentage of government spending rather than GDP see
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