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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: jlallen who wrote (53403)	10/27/2000 5:00:17 PM
From: American Spirit	Read Replies (2) \| Respond to of 769670

The Reagan Administration was almost completely responsible for the Garn-St.Germaine Act. When Reagan signed it at a photo op he proclaimed "this is a great day for America!" One trillin in debt later we're not so sure he and his people are fiscal conservatives. Again, don't even go there trying to blame democrats for Garn-St. Germaine. There were some like Texan Jim Wright who share a portion of the responsibility but it was a Reagan Program all the way and Donald Regan later clamped down on any examiner who dares to suggest that the Act was a failure and that bleeding S+L's needed to be shut down. To avoid accepting responsibility that they were wrong (a common GOP trait) instead of costign us maybe 10 billion it ended up costing us 1 trillion, most of it longterm interest on the debt.