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Didn't the crash of 2007 and rising inequality and poverty in America prove well enough that the "dream of the 80s" is no longer alive? I hear libertarian and conservative types and even some liberals still sing the praise of deregulation and flat taxes.
Please disaggregate your POV.
* Crash of 2007 was really set in motion during the Clinton Admin -- a combination of a GOP led house and Senate and a President too considered with his polls. You are stretching to go back to the 80s for that crisis.
* Rising inequality has been a secular trend that has gone back to the early 80s and could care less about party lines--instead look at all gutting of the middle class and the simple nature of globalization, led by China and India coming back "online" after self-imposed isolation and incompetence. Within that process we see both parties and their rich constituents loving the outsourcing.
* Poverty: The reality is that the deep poverty of isolated islands of forgotten Americans is again the fault of a air of indifference shared by both parties over the plight of Americans.
* Deregulation. The deregulation of the 70s was long overdue and in many ways a move in the right direction. Remember the starting point was horrific regulation and taxes. The deregulation of the financial industry--such as lifting barriers for investment banks--and doing so without consideration/monitoring of possible consequences was the work of complete idiots--Gingrich, Gramm, and Cheney--under a Democratic Administration only too happy to see a return of the booming 20s.
* Flat Taxes: This was not Reagan but Reagan acolytes and pseudo-economists like Kemp and Forbes. But flat taxes are irrelevant since they never came about.
The critique of Reaganomics should be focused on the explosion of the deficit spending, militarization of foreign policy beyond the cold war, and the lost opportunity to deal with outsourcing, which began to ramp up in earnest that decade.
Speaking of Reagan and his policies, where the heck is that Star Wars Missile Shield (SDI) he spent billions on?
If it is still not possible today, what insanity drove anyone to believe it was possible thirty years ago? Certainly, we cannot call a president who tripled the national debt any kind of economic genius.
Speaking of Reagan and his policies, where the heck is that Star Wars Missile Shield (SDI) he spent billions on?
If it is still not possible today, what insanity drove anyone to believe it was possible thirty years ago? Certainly, we cannot call a president who tripled the national debt any kind of economic genius.
And Reagan led us down the debt-addicted path we find ourselves on today. No, it wasn't enough to merely leverage ourselves up to our eyeballs. We had to leverage our children, grandchildren and now great grandchildren up to their eyeballs, too.
Didn't the crash of 2007 and rising inequality and poverty in America prove well enough that the "dream of the 80s" is no longer alive? I hear libertarian and conservative types and even some liberals still sing the praise of deregulation and flat taxes.
And so, you are baffled that a nation carrying a 50 trillion dollar overall debt load, which borrows roughly 38 percent of it's annual budget every year at 6 percent interest from a privately held bank, is having problems?
And so, you are baffled that a nation carrying a 50 trillion dollar overall debt load, which borrows roughly 38 percent of it's annual budget every year at 6 percent interest from a privately held bank, is having problems?
Maybe he is baffled that the same folks who participated in getting us to this point, are offering shop worn plans to fixing those problems?
Speaking of Reagan and his policies, where the heck is that Star Wars Missile Shield (SDI) he spent billions on?
If it is still not possible today, what insanity drove anyone to believe it was possible thirty years ago? Certainly, we cannot call a president who tripled the national debt any kind of economic genius.
Never happened. The dems refused to pass legislation nor fund it.
And Reagan led us down the debt-addicted path we find ourselves on today. No, it wasn't enough to merely leverage ourselves up to our eyeballs. We had to leverage our children, grandchildren and now great grandchildren up to their eyeballs, too.
In feturn for funding to rebuild our military, Reagan gave the dems all the social spending they wanted. THAT is the reason for the so called Reagan deficits.Contrary to liberal left theology, Reagan did NOT cut social spending. Go check the annual budgets 1982-1989. Social spending INCREASED EVERY YEAR!
Because it works. The great recession was caused by a variety of factors, mainly lending.
Reganonmics had a big part to play in the Great Recession.
Quote:
Originally Posted by MidwestRedux
The United States was found on Libertarian principles of small government and our Constitution drafted accordingly. By mostly sticking to those ideals for a couple hundred years, the U.S. became the greatest superpower in the history of civilization.
The economy is nothing like it was 200 years ago.
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