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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (471301)	4/13/2009 3:47:30 PM
From: tejek	Read Replies (2) of 1576994

Well they are not 100% unconnected. The deficits went up under Reagan partially because of the higher interest rates I mentioned. The recession which was necessary to clear out the inflationary pressures and expectations from the 70s, caused lower government revenue and higher spending than would have otherwise been the case. The 1970s was a period of stagflation. If it led to lower revenues in the 1980s, then it was not a smart move to cut taxes. But over the whole eight year term of each president (Reagan, and Bush II) the biggest reason for the increase in deficits was the increase in spending, the majority of which went to social programs. Uh.....the fact that we spend more on Defense than all the other nations of the world had nothing to do with it, did it? I thought so. How can you expect to have credibility when you post such ideological nonsense?

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