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Politics : Politics for Pros- moderated

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To: DMaA who wrote (520805)	11/8/2012 4:05:43 PM
From: Bob	2 Recommendations Read Replies (1) of 793623

I agreed with everything you said up until the comment about Reagan, probably our greatest President ever, definitely in our lifetimes: Ronald Reagan (in August of 1982) in reference to TEFRA—the Tax Equity and Fiscal Responsibility Act—which congressional Democrats promised would involve a ratio of $3 in spending cuts for every $1 in tax increases (which they said would consist only of closing loopholes). TEFRA passed later that year, and the tax increases certainly happened but, as Reagan later put it in his autobiography, “the Democrats reneged on their pledge and we never got those cuts.” TEFRA was one of Reagan’s great regrets about his time in the White House, and should serve as a warning to Republicans contemplating similar grand bargains. Obama’s reference to it only highlights the fact that he tried to pull off something much like TEFRA. Luckily, he appears to have failed. Reagan only agreed to that huge tax increase as he was promised $3 in spending for every $1 in new taxes. Democrats cannot be trusted. EVER. nationalreview.com norcalblogs.com

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