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To: Elroy Jetson who wrote (202588)	5/16/2009 11:01:46 AM
From: Activatecard	Read Replies (1) \| Respond to of 306849

The Real Reagan Economic Record: Responsible and Successful Fiscal Policy "Under President Reagan, federal revenues increased even with tax cuts, federal spending did not decrease, the country experienced the longest period of sustained growth during peacetime in its history, and the rich paid more taxes proportionately than they had before the tax cuts were implemented." heritage.org

To: Elroy Jetson who wrote (202588)	5/16/2009 2:02:50 PM
From: ajtj99	Respond to of 306849

I've been looking for the US to drop to a debt level of 250% of GDP from the peak around 350% of GDP. That would be a $14-Trillion reduction in debt. I do not believe we will ever achieve the 150% mean area of debt as a percentage of GDP due to institutionalized use of revolving credit card debt, new and used auto debt, student loans, and home equity debt. The US government is also going to be borrowing heavily well into the future. However, a $14-Trillion reduction in debt is still a huge unwinding.

To: Elroy Jetson who wrote (202588)	5/16/2009 2:07:28 PM
From: koan	Read Replies (1) \| Respond to of 306849

You can't even read your own chart. Look at how private debt dropped straight down form 1932 to 1948; and then look at how government debt dropped from 1948 to 1960!!!!! Even after all that government spending. We came out of the depression just fine according to YOUR chart! Becaseu of the stimulous! Look again and tell me what facts I got wrong! Your chart: Message 25648814