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This mess is all about the failed policies of Reaganomics as implemented by the Reagan and both Bush administrations. According to the wiki article on Reaganomics, there are four main pillars of Reaganomics:
reduce the growth of government spending
reduce marginal tax rates on income from labor and capital
reduce government regulation of the economy
control the money supply to reduce inflation
The problems we face today are because Reagan and both Bushes failed miserably on point one, and their buddy Phil Gramm succeeded way too well on point three (in legislation that passed by veto-proof tallies in the Senate 90-8-1 and in the House: 362-57-15, and then signed by Clinton).
Funny how the chickens come home to roost, isn't it. The small govt. fanatics are presiding over the biggest deficit and spending spree ever AND the biggest nationalization of industry ever.
Ironic, isn't it that an ultra conservative govt yields socialism writ large.
This mess is all about the failed policies of Reaganomics as implemented by the Reagan and both Bush administrations. According to the wiki article on Reaganomics, there are four main pillars of Reaganomics:
reduce the growth of government spending
reduce marginal tax rates on income from labor and capital
reduce government regulation of the economy
control the money supply to reduce inflation
The problems we face today are because Reagan and both Bushes failed miserably on point one, and their buddy Phil Gramm succeeded way too well on point three (in legislation that passed by veto-proof tallies in the Senate 90-8-1 and in the House: 362-57-15, and then signed by Clinton).
First, when Democrats write policy, the people spend money. When Republicans write policy, the government spends money. Our system if based on debt being used to create money.
Under Carter, we had policies enacted to help Americans buy homes.
Under Reagan, we had policies enacted to "defend" America.
Under Bush Sr, we had more policies enacted and a war to "defend" America and her allies.
Under Clinton, we had policies enacted to allow more Americans to spend borrowed money.
Under Bush, we have both. We have housing loans and free credit. Plus we have massive government spending. This Presidency is the culmination not of Reaganomics, but of a failed banking and monetary system.
You like wiki? Look up fractional reserve banking. With or without regulation, it always fails eventually. It's a flaw inherent in the system.
The root cause of this economic crisis is GEORGE BUSH. Plain and simple.
You'll be sorely disappointed when you attempt to solve a problem, oversimplify the root cause, and then attempt to fix it based upon those misconceptions.
I'm not a fan of Bush, but to suggest that he alone is responsible is laughable.
You'll be sorely disappointed when you attempt to solve a problem, oversimplify the root cause, and then attempt to fix it based upon those misconceptions.
I'm not a fan of Bush, but to suggest that he alone is responsible is laughable.
Reagan introduced us to hyper partisanship. That's his legacy. Yes, I realize the irony.
This mess is all about the failed policies of Reaganomics as implemented by the Reagan and both Bush administrations. According to the wiki article on Reaganomics, there are four main pillars of Reaganomics:
reduce the growth of government spending
reduce marginal tax rates on income from labor and capital
reduce government regulation of the economy
control the money supply to reduce inflation
The problems we face today are because Reagan and both Bushes failed miserably on point one, and their buddy Phil Gramm succeeded way too well on point three (in legislation that passed by veto-proof tallies in the Senate 90-8-1 and in the House: 362-57-15, and then signed by Clinton).
What is crazy, is they haven't done any of those pillars but #s 2 and 3. They've allowed gov't to expand it's spending exponentially, and they've printed more money than ever before, which has lead to inflation and a devalued dollar compared to other other currencies. #3 is the worst of them all. #2 would be ok, if they kept to their supposed spending principles, but they haven't.
I am just not that much of a stupid dumb **** to believe that the policies that have crippled this ecomomy were first implemented 15-20 yrs ago. Sorry.
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Thanks I needed a good belly laugh.
