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What began under Reagan was an agree ment to cut spending by three dollars for every dollar of tax increase. One week after TEFRA was signed into law Congress reneged on their agreement by enacting a budget busting supplemental appropriations act over Reagan's veto.
I know you're trying to paint the picture that Reagan was a fiscally responsible President but the fact remains he cut taxes on the richest 1% from a rate of around 77% to 23%.
And focusing on what Reagan did in 1981 and ignoring the rest of his Presidency is not an accurate picture of his fiscal policies during his tenure as our leader. Thanks for being so well informed
The only time our deficit was greater then our GDP was during WWII. Our deficit in 2008 was not 100% of our GDP, that would mean we were in the hole over $12 Trillion in one fiscal year. Our publicly held debt may be that much but the budget deficit is not.
Also, I don't think there are many people who would fault FDR for the amount of spending that was needed to win WWII, we were fighting Hitler, what else could we do?
I didn't say anything about deficits. You just made that up. If you want to go there, I wouldn't advise it. Obama clearly owns that record.
Last edited by BigJon3475; 11-01-2011 at 06:41 PM..
I'll take that 9.3% increase in GDP, the ten point drop in the inflation rate, the record US dollar, the inflation adjusted $2.60/gal gasoline and the twenty million new private sector jobs any day over our current mess.
I was not debating the economy of 1981-1989 as compared to the economy of the last two years and change, although I'd probably be game to have that discussion at some point.
The point I was making in that particular post is that if you look at the debt data, you'd see that Reagan has a terrible record in that regard. Statistically, yes, Obama hasn't been too good either, but then again, he did inherit an economy that was shedding about a half million jobs per month at its worst, and that trend continued for the first few months of his term. The result was a loss of receipts, and he still to this day hasn't been able to pass a tax increase on income. So complain about his debt all you want, but it's b.s. and you know it. What's Reagan's excuse?
About the best thing Obama can offer the American people in terms of accomplishments are that he provided some stability, with some slight improvement in some respects, and slightly worsening in others. But considering where he started from, I'd say that he's done okay. Not great, but okay.
I know you're trying to paint the picture that Reagan was a fiscally responsible President but the fact remains he cut taxes on the richest 1% from a rate of around 77% to 23%.
And focusing on what Reagan did in 1981 and ignoring the rest of his Presidency is not an accurate picture of his fiscal policies during his tenure as our leader. Thanks for being so well informed
Besides that you're just making up "facts..."
Employment -
January 1981 -91,031,000
December 1988 - 106,871,000
15,840,000 additional jobs during is presidency or 165,000 jobs a month on average. That includes a horrible first 3 years while he repaired the economically illiterate Carter "stew."
I didn't say anything about deficits. You just made that up. If you want to go there I wouldn't advise it. Obama clearly owns that record.
I apologize, I didnt read your post carefully enough. You are right, our publicly held debt has increased to levels akin to WWII.
And Im not a big Obama supporter but you cannot blame him alone for owning the debt that we have today. My point was that we have been on this road for quite some time now and Obama was the guy left holding the bag. Not that he has done a damn thing to make it any better.
Employment -
January 1981 -91,031,000
December 1988 - 106,871,000
15,840,000 additional jobs during is presidency or 165,000 jobs a month on average. That includes a horrible first 3 years while he repaired the economically illiterate Carter "stew."
I apologize, I didnt read your post carefully enough. You are right, our publicly held debt has increased to levels akin to WWII.
And Im not a big Obama supporter but you cannot blame him alone for owning the debt that we have today. My point was that we have been on this road for quite some time now and Obama was the guy left holding the bag. Not that he has done a damn thing to make it any better.
Okay. So that begs the question... Does more regulations lead to jobs? Does the status quo lead to jobs?
The answer to both is what the OP seems to want to ignore.
The status quo won't get people reelected and that's why it's either cut something or grow something.
Historically, taxes have been dropping and regulations always increasing. In fact I don't think government has ever decreased regulations, ever.
That's not a sign of one president or another though. That's the sign of an economy emerging from the industrial revolution and now you're seeing that same economy competing with countries in their industrial revolutions.
Needless to say the banter of the here and now needs to stop and some very real very unchangeable (well, without total war and the destruction of those industrial complexes that are emerging) things are going to occur.
I'm not sure he understands the difference. Could you break it down for him?
They just misread my post. No worries.
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