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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (27919)	8/3/2017 1:33:49 PM
From: Steve Lokness	Respond to of 363891

No that would be wrong. They said supply side economics BUT it was actually the deficit spending that you claim to hate so much. Look at how the deficit exploded under Reagan. Of course we had the benefit of being war-free during those years too. .......Then a slight turn towards supply side economics when Bush the younger came to town repeated the lesson learned by, I thought everyone, that supply side economics was a joke only keeping the economy going through deficit spending. CLEARLY, you are using alternate facts again.

To: i-node who wrote (27919)	8/3/2017 4:53:03 PM
From: combjelly	1 Recommendation Recommended By denizen48 Respond to of 363891

Pure nonsense. For one, despite a third of the stimulus being tax breaks, which don't work in the environment we had, the stimulus did what it was supposed to do. It wasn't big enough, but it certainly staunched the bleeding. As to supply side under Reagan, there is no evidence it worked. The massive deficit spending, coupled with a decrease in interest rates by Volcker is what did the trick. The economy was pretty moribund until then, despite the ill-advised tax cuts. The fact of the matter is that supply side has failed every time it has been tried. The only reason it didn't under Reagan is there were a lot of other factors hiding its effects. Again, look at the states that have tried it.