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Politics : American Presidential Politics and foreign affairs

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To: TimF who wrote (68584)	1/2/2014 1:24:38 AM
From: RMF	Read Replies (1) of 71588

I don't think it's silly at all to call Reagan the father of deficits. He made deficits ACCEPTABLE. Before Reagan, getting to a Trillion in debt was considered a Big Deal. He himself made a POINT of talking about how high our deficit WAS under Carter. Remember his thing about putting dollar bills end to end and how they'd reach to the moon and back? He then got elected and squeezed the economy to death with punitive interest rates and cut taxes at the same time which exacerbated the situation. He always presented a cheery optimistic presence to the country and the economy WAS expanding but that was a CERTAINTY after he had crushed it to the depths and then pumped it up with tax cuts and a gradual lowering of those punitive interest rates. It certainly helped the WEALTHY with rising stocks but it didn't really kick in for mainstreet very quickly with unemployment hanging around 10% for an extended period. There was also a BIG drop in oil prices which was a major factor in his economic renaissance.

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