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Politics : Ask Michael Burke

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To: Ilaine who wrote (45912)	2/5/1999 4:52:00 PM
From: Merritt	Read Replies (1) of 132070

CB: I do mostly ignore him. As to your MB question: nope, no definitive answer except to say it seemed to me to be a result of several things...interest rates being paramount, but the causes of the changes were diverse...balance of payments, deficit spending, natural resource price fluctuations, etc. Liberals like to blame Reagan for running up the deficit, but Reagan made a strategic decision to enter into massive defense spending, which resulted in the Soviets falling massively behind in military parity, even though they ruined their economy trying to keep up. Reagan had enough power to get his defense budget passed, but not enough power to do it without giving a sop to Cerberus (the Democrats huge "entitlements" budgetary items). Now the "dogs" want to put all the blame on Reagan.

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