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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (68604)	1/4/2014 2:11:56 AM
From: RMF	Read Replies (2) \| Respond to of 71588

BEFORE Reagan the National Debt over 200 years had "gradually" moved up to almost 1 Trillion. Then, in Reagan's 8 years it suddenly JUMPED to almost 3 Trillion. You're only taking 8 years for the entire National Debt to TRIPLE. That's not across decades, that's across a lousy 8 years. You can't say that's NOT a Big Deal. And you can't say it was because the economy was shrinking because it was GROWING for about the last 6 of those Reagan years. Volcker was put IN by Carter and was "expected" to raise interest rates. Although I don't think Carter wanted them raised to the extreme that Reagan did. I was working in the housing industry in 1980-1982 and I saw a LOT of VERY good people go broke because of those PUNITIVE interest rates through no fault of their own.