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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (46664)	1/23/2008 3:46:27 PM
From: KyrosL	Read Replies (2) \| Respond to of 542201

Steve, Exactly as the recession all those out of whck numbers distorted the first years of Reagan's term But the huge problem with Reagan/Bush was that after the recession ended in 1982, the spending and debt explosion went on and on and on and on. We had recessions in the seventies, the sixties, the fifties. The two seventies recessions were pretty bad. In none of those recessions did the debt as a percent of GDP rise perceptibly (see my chart). Even the Vietnam War combined with LBJ's social spending did not result in much of an increase. You simply can't use the early eighties recession to justify the huge Reagan/Bush debt explosion that lasted more than a decade.