diesel96
Well-Known Member
If you are saying huge government deficit spending started with Reagan I really do not think this is true. During the 40's deficit spending reached 30% of GDP according to this chart.
http://traxel.com/deficit/deficit-percentage.png
Here is a chart that shows an adjustment for inflation to 1996 dollars.
http://traxel.com/deficit/deficit-constant-dollars.png
I wonder who was President in 1943 and which party controlled Congress. It may have been FDR(sorry Jones I know you do not like initials). Funny how the new deal was sold as a short term recovery program for the country and here we are still paying for it. One of his programs (the SSA) will likely cost 9 trillion before anyone even tries to slow it down. No complaints from you for that but the Reagan era supposedly started the huge government deficit problem. Really? I don't want to give the impression that I am laying it all on FDR but I can see no way that you can say it all started with Reagan.
First off, did you ever ask yourself which President and Congress had to bail us out in the thirties from The Depression and the restoration of un-regulated Capitalism?
Some people believe in the tooth fairy. And then there are those who believe that Ronald Reagan was a great president. When I think of Ronald Reagan I think of Mcdonalds french fries. He may have been extremely popular, satisfying and appealing to you. But he left with you with enormous deficits, a crippling social welfare state, and unemployment that made Jimmy Carter look like chior boy. In other words, the nation's arteries were clogged to the point of a cardiac arrest or stroke.
Roosevelt came into office during the weakest economic state our country had ever been in. When he left office the country was healthier...much. Billions of dollars were financed towards improving infrastructure around the country - People had opportunity. People had a saftey net.
In 1980 we inaugurated friend.D.R's alter ego. Despite Reagan voting for friend.D.R all four times, he wasn't a thing like him. Ronald Reagan did not create one net job. America was the largest creditor when he stepped into office. When he left, we were the greatest debtor. He tripled the budget deficit. He would fall asleep during important meetings in the White House. America's social safety net was slashed like O.J. with a knife. Our people were worse off.
Ronald Reagan had values. Ronald Reagan had character. He stood up for what he believed in. Maybe so. But it didn't get us far.
Handouts to the rich aren't exactly Keynesian economics at work. More likely to go into savings and you aren't going to help everybody out a bit. I think we all agree SS needs to be tweaked now,but how did you come up with $9 Trillon before anyone slows it down?
BTW...Here's a quote from your alter ego GW in a Middle School in Greece NY;
"First, let me start by saying that Franklin Roosevelt did a good thing when he created the Social Security system. Social Security has been an important part of a lot of people's lives in America. The Social Security system created by Franklin Roosevelt provided a safety net for people in their retirement. And it worked".