Quote:
Originally Posted by glatt
This is in percent of GDP, not in real dollars, but it's something.
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Cheney said (and wacko extremists therefore believed) that Reagan proved deficits don't matter. We now suffer pain from that Cheney lie.
It did not matter to him because he prospered by spending money then. We are now stuck with the resulting bills.
Notice what happened when Reagan/Bush ran the debt up big time. In the Cellar, so many in 1990/2 were complaining about how bad things had become. Then Clinton addressed the problem. As a result, the economy prospered and deficit dropped to zero. What did Clinton do? He raised taxes. That (in part) caused the economy to prosper.
Extremist do not want to admit something. Obama is successfully curing the destruction of the American economy created (in part) by tax cuts, welfare to the rich, and other fiscal mismanagement - including Mission Accomplished.