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Politics : View from the Center and Left

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To: slacker711 who wrote (132897)	3/12/2010 8:45:51 AM
From: Sam	Read Replies (1) of 542455

I can only say that I shudder to think of the size of the welfare state without Reagan. Yes, federal spending went up considerably in the post-War years. But we didn't need the extreme cuts and mind-set of Reagan in order to reign that spending in. Even when spending was going up, there were plenty of calls on both sides of the aisle to control it and to bring the budget back into balance. It was only after Reagan's irresponsible tax cuts that the deficit began to get really out of control, and then with the Bush-Cheney administration we had senior govt officials saying publicly that "Deficits don't matter," something that they said only privately in the Reagan administration (I still haven't gotten around to re-reading David Stockman's The Triumph of Politics but will try to do so sometime in the next month or two, and strongly recommend it to anyone interested in fiscal matters during the Reagan administration). Well, actually, what they were saying privately in the Reagan administration was that deficits do matter, because the higher they are the less effective government can be and the less it can do.

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