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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Jacques Chitte who wrote (57236)	10/5/1999 2:15:00 PM
From: Neocon	Respond to of 108807

First, the Democrats gave Reagan most of his tax cutting program, but only about 3/4 of his expense cutting requests. Revenues went up, as predicted, but there were not adequate cuts. Second, debt as a percentage of GNP is relatively low, compared to many industrial countries. Third, we have benefited from the ceiling placed on spending initiatives by anxiety about the debt. Fourth, it turns out that the predicted crowding out of capital (which is the most deleterious anticipated effect of high national debt) has not occurred, because the United States remains the single most attractive place of investment for foreign capital.....

To: Jacques Chitte who wrote (57236)	10/5/1999 2:32:00 PM
From: Ilaine	Read Replies (2) \| Respond to of 108807

Lather, please look at the Ronald Reagan web site I linked to E., as it lays out the facts. Congress sent Reagan a budget that was more than he asked for, every year. Through compounding, it added up to quite a bit more at the end of his administration. As for the present economic conditions, I'd have to say that much of the credit goes to the Federal Reserve. Paul Volcker probably caused the recession of the late 70's, early 80's when he raised interest rates so high to get rid of inflation, which was unpleasant, but it worked. He was a Carter appointee (1979). And Greenspan was appointed in 1987, which makes him, I believe, a Reagan appointee.