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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (68544)12/31/2013 12:08:42 AM
From: RMF  Read Replies (3) of 71588
 
So you're saying that Hoover and FDR were the fathers of deficits because they ran considerably larger deficits than had been the norm before their time?

Don't you think both of those guys deserve some slack since they were both Presidents during the worst worldwide DEPRESSION in history?

If your revenues suddenly get slashed isn't it logical that you're gonna run some deficits?

If Carter had been reelected in 1980 he wouldn't have asked for those tax cuts. He WOULD have wanted Volcker to raise interest rates to a level that would have squeezed inflation out of the economy.

We would have STILL had a major downturn in 81 and 82 but it wouldn't have been as severe since Carter wouldn't have been in favor of such PUNITIVE rates as Reagan was and the Rich folks would still have been contributing at the same rate as before. We also would have SAVED a lot of money on defense spending because Carter was trying to make the Department of Defense act like it was serving the national defense and not just retired generals and defense contractors. There would have been no $1000 toilet seats and $500 bolts.

You're talking about what's "sustainable". That's ABSURD. The guy living paycheck to paycheck can talk like that but the United States Government should NOT.
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