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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (68604)1/4/2014 2:11:56 AM
From: RMF  Read Replies (2) of 71588
 
BEFORE Reagan the National Debt over 200 years had "gradually" moved up to almost 1 Trillion.

Then, in Reagan's 8 years it suddenly JUMPED to almost 3 Trillion.

You're only taking 8 years for the entire National Debt to TRIPLE.

That's not across decades, that's across a lousy 8 years. You can't say that's NOT a Big Deal.

And you can't say it was because the economy was shrinking because it was GROWING for about the last 6 of those Reagan years.

Volcker was put IN by Carter and was "expected" to raise interest rates. Although I don't think Carter wanted them raised to the extreme that Reagan did.

I was working in the housing industry in 1980-1982 and I saw a LOT of VERY good people go broke because of those PUNITIVE interest rates through no fault of their own.
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