To: Steve Dietrich who wrote (34797 ) 8/29/2000 6:15:36 AM From: JDN Read Replies (1) | Respond to of 64865 Dear Steve: We dont really want to discuss politics on this thread, however, in the event you may not be old enough to remember the facts of what happened, here is the REAL story. Taxes were cut to stimulate the economy at the SAME TIME the budget was supposed to be cut. Congress, then led by Democrats didnt do their end. On top of that the Reagan years were when he in a CONSCIOUS DECISION decided that he was going to end the cold war by forcing the Russians into an impossible position financially if they were going to try and match our military buildup. I think everyone agrees Reagan was successful in ending the Cold War and there isnt another person on earth that deserves the credit. WHATEVER that cost was IMHO it was worth it. As a result we now have a better functioning Global Society concentrating more on economic matters and less on wasteful military buildups. Thats where the deficits arose from. Allan Greenspan himself would prefer the status quo meaning keep taxes the same and pay down debt WITHOUT additional spending. BUT, AG also says, if politically its not possible to SAVE money in the govt it would be preferable to return it to the people then to increase Government spending. Finally, I wish to add that Debt to the USA govt is not the same as debt owed by you and I. Why, cause they have a printing press we dont. DEBT should be measured as a percentage of GNP and IN FACT some debt is GOOD as it gives the Government more flexibility in determining liquidity levels of currency. Anyhow, as a percentage of GNP debt has gone down quite a bit from previous generations since WWII. Charles, dont get mad at me for this post but my conscious insists that I do it. JDN