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Politics : American Presidential Politics and foreign affairs

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To: RMF who wrote (68597)	1/2/2014 11:03:01 AM
From: TimF	Read Replies (1) of 71588

He made deficits ACCEPTABLE. No he didn't. They were acceptable and common long before him. Before Reagan, getting to a Trillion in debt was considered a Big Deal. Probably because it had not happened, largely because the value of a dollar was higher and the economy was smaller. Nominal dollar debt totals don't mean a lot when your comparing across decades. 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. Volker not Reagan. Reagan supported it but it was Volker's action. And it was an important one due to the high sustained inflation the US had and was experiencing. It certainly helped the WEALTHY And the country as a whole. The inflation was very harmful, and the growth from the recession needed to crush it was strong.

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