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To: Elroy Jetson who wrote (25673)12/7/2004 3:13:05 PM
From: Amy JRead Replies (2) | Respond to of 306849
 
Elroy, and isn't federal debt now 60% of GDP?

Imagine back when it was only 26.5% of GDP - Carter years. Things may have been tougher back then because the govt ran a tighter ship and money wasn't as easy, but at least that generation had the guts to deal with their hard times themselves rather than dump their debt onto the next generation.

Regards,
Amy J



To: Elroy Jetson who wrote (25673)12/7/2004 5:12:01 PM
From: ChrisJPRespond to of 306849
 
Hi Elroy,

Yes, he left a big DEBT cuz he cut taxes.

But you should find data that shows what gov't SPENDING (in constant dollars) was during his administration.

The fact that CONGRESS couldn't adapt to the budgets cuts quickly enough to keep the deficit down wasn't Reagan's fault.

And to show the cutoff under Reagan is misleading -- the pay off of Reagan's policies occurred a few years later -- in the 1990s.

Chris


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