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Originally posted by Overpaid Slacker
So this bullshyt canard about how Reagan "increased" spending and deficits in his early years is absolute fiction. If you're going to lie, jyl, don't insult us while doing so, flagrantly believing that nobody out here is going to see through it. OK, maybe you weren't lying. Maybe you were just suckered.
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Sorry to offend, but the numbers are the numbers. During Reagan's 8 years, Federal government spending rose faster than Federal government revenue, the annual Federal budget deficit rose to record levels, and the Federal debt grew by leaps and bounds (increased +188% from 1981 to 1989, or nearly tripled). This is not fiction: it is fact. If you think I am lying, please refer to the US Treasury Department.
http://www.treas.gov/education/fact-sheets/taxes/fed-debt.shtml If you think the Treasury Department is lying, well, maybe I'm not the one who's been suckered.
Here's an excerpt, cut and pasted from that site. It gives the Federal debt by year.
1989
$2,868,039 million
1988
$2,601,307 million
1987
$2,346,125 million
1986
$2,120,629 million
1985
$1,817,521 million
1984
$1,564,657 million
1983
$1,371,710 million
1982
$1,137,345 million
1981
$ 994,845 million
1980
$ 909,050 million
If you want to argue that breaking the Soviet Union was "worth" spending trillions, I won't disagree - I would probably agree, in fact - but that doesn't change the debt incurred.
If you want to argue that all the spending revived a stagnant economy, I would disagree - I think the economy goes through cycles and recessions end naturally with or without government help - but anyway that doesn't change the debt incurred.
If you want to argue that the national debt doesn't matter, then we can have an interesting discussion. Actually, a minority of economists do think that. I (and most economists) disagree, but it is a reasonable issue on which to differ.
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But, even if the Reagan example was an innocent mistake, why did you so conveniently ignore Kennedy's fiscal and monetary successes in cutting taxes?
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I admit that I don't know much about the Kennedy Presidency's economics. Maybe I'll do some research. Can you post some facts, or links to credible websites?
P.S. I've never read the
New Republic or
Village Voice. I assume those are liberal magazines. I'm liberal on some things, but for economics I stick to
The Economist, the
Wall Street Journal, government data, and other pretty mainstream stuff. And I voted for Reagan.