Answered in great detail:
Reagan era policies created the structural budget deficits (and the bulk of our nation's modern debt load). Reagan era TRIPLED the deficit:
Message 26981627
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And now, other sources:
Also: On the matter of deficits, Reagan nearly tripled the gap between the amount of money the federal government took in and the amount it spent....
articles.sfgate.com
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Specific question you asked: "Deficit Reagan's 'last year'?"
BUDGETS AND DEFICITS
Federal Deficit and Debt (Nominal dollars, in millions)
(NOTE: Nominal dollars, not inflation-adjusted)
Debt as a percentage
Year Deficit Debt of that year's GDP
1979 -$40,183 -$828,923 34%
1980 -73,835 -908,503 34
1981 -78,976 -994,298 34
1982 -127,989 -1,136,798 36
1983 -207,818 -1,371,164 41
1984 -185,388 -1,564,110 42
1985 -212,334 -1,816,974 46
1986 -221,245 -2,120,082 50
1987 -149,769 -2,345,578 53
1988 -155,187 -2,600,760 54
1989 -152,481 -2,867,538 55
1990 -221,384 -3,206,207 59
1991 -269,521 -3,598,303 63
1992 -290,403 -4,001,941 67
huppi.com
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Economic Legacy
Reagan Policies Gave Green Light to Red Ink
By Jonathan Weisman
Washington Post Staff Writer
Wednesday, June 9, 2004; Page A11
washingtonpost.com;
The line is not likely to make this week's eulogies to Ronald Reagan, but when Vice President Cheney allegedly declared, "Reagan proved deficits don't matter," he summed up an enduring argument from the former president's economic legacy....
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National Economic Statistics aggregated by the POLITICAL PARTY of the President:
presidentialdata.org
Aggregate data from 1960 and 1980 to present (5-05)
1) Deficit (On Budget)
1961-present
Total Democratic Budget Deficits: $1283.8 billion
Total Republican Budget Deficits: $5487.4 billion
Democratic Presidents’ deficits averaged 1.77% of GDP
Republican Presidents’ deficits averaged 3.42% of GDP
1981-present
Total Democratic Budget Deficits: $1004.4 billion
Total Republican Budget Deficits: $5280.1 billion
Democratic Presidents’ deficits averaged 2.06% of GDP
Republican Presidents’ deficits averaged 4.09% of GDP
1a) Deficit (total)
Since World War II
Total Democratic Budget Deficits: $625.1 billion
Total Republican Budget Deficits: $4040.7 billion
Democratic Presidents’ deficits averaged 1.2% of GDP
Republican Presidents’ deficits averaged 2% of GDP
1961-present
Total Democratic Budget Deficits: $608.2 billion
Total Republican Budget Deficits: $4013.2 billion
Democratic Presidents’ deficits averaged 1.21% of GDP
Republican Presidents’ deficits averaged 2.37% of GDP
1981-present
Total Democratic Budget Deficits: $320.3 billion
Total Republican Budget Deficits: $3819.3 billion
Democratic Presidents’ deficits averaged 0.76% of GDP
Republican Presidents’ deficits averaged 2.67% of GDP
2) GDP Growth
Since World War II
Average GDP growth per year under Democratic Presidents: 4.05%
Average GDP growth per year under Republican Presidents: 2.88%
1961-present
Average GDP growth per year under Democratic Presidents: 4.09%
Average GDP growth per year under Republican Presidents: 2.81%
1981-present
Average GDP growth per year under Democratic Presidents: 3.7%
Average GDP growth per year under Republican Presidents: 2.81%
3) Business Investment Growth
Since World War II
Average growth per year under Democratic Presidents: 7.08%
Average growth per year under Republican Presidents: 2.94%
1961-present
Average growth per year under Democratic Presidents: 7.2%
Average growth per year under Republican Presidents: 2.95%
1981-present
Average growth per year under Democratic Presidents: 9.85%
Average growth per year under Republican Presidents: 2.29%
4) Unemployment
Since World War II
Average unemployment per year during Democratic Presidents: 5.03%
Average unemployment per year during Republican Presidents: 5.93%
1961-present
Average unemployment per year during Democratic Presidents: 5.33%
Average unemployment per year during Republican Presidents: 6.24%
1981-present
Average unemployment per year during Democratic Presidents: 5.20%
Average unemployment per year during Republican Presidents: 6.41%
5) Growth in Jobs
Since World War II
Average yearly growth in jobs under Democratic Presidents: 2,082,000
Average yearly growth in jobs under Republican Presidents: 1,167,000
Average yearly percent growth in jobs under Democratic Presidents: 2.67%
Average yearly percent growth in jobs under Republican Presidents: 1.36%
1961-present
Average yearly growth in jobs under Democratic Presidents: 2,391,000
Average yearly growth in jobs under Republican Presidents: 1,307,000
Average yearly percent growth in jobs under Democratic Presidents: 2.69%
Average yearly percent growth in jobs under Republican Presidents: 1.39%
1981-present
Average yearly growth in jobs under Democratic Presidents: 2,884,000
Average yearly growth in jobs under Republican Presidents: 1,253,000
Average yearly percent growth in jobs under Democratic Presidents: 2.37%
Average yearly percent growth in jobs under Republican Presidents: 1.17%
6) Growth in Pay
Since World War II
Average yearly growth in weekly earnings under Democratic Presidents: 0.83%
Average yearly growth in weekly earnings under Republican Presidents: 0.408%
1961-present
Average yearly growth in weekly earnings under Democratic Presidents: 0.48%
Average yearly growth in weekly earnings under Republican Presidents: -0.30%
1981-present
Average yearly growth in weekly earnings under Democratic Presidents: 0.84%
Average yearly growth in weekly earnings under Republican Presidents: -0.34%
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National debt by U.S. presidential terms
en.wikipedia.org
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