Under Reagan, we tripled our national debt. Our whole debt problem started with the Reagan tax cuts & a slashed capital gains tax.
Reagan’s own budget director, David Stockman, called the Reagan tax cuts a “Trojan horse for the rich.”
In 1981, the Reagan “revolution” and tax cuts began. In October 1987 the stock market crashed. Sense a pattern here?
Dick Cheney said that Ronald Reagan “proved that deficits don’t matter.”
After FDR put in financial regulations, we didn’t have a banking crisis until the S & L scandal of the 1980s.
The only modern Presidents to submit a balanced budget were Jimmy Carter & Bill Clinton.
“We have made progress in restoring our defense capability. But much remains to be done. There must be no wavering by us, nor any doubts by others, that America will meet her responsibilities to remain free, secure, and at peace.
“There is only one way safely and legitimately to reduce the cost of national security, and that is to reduce the need for it. And this we are trying to do in negotiations with the Soviet Union. We are not just discussing limits on a further increase of nuclear weapons. We seek, instead, to reduce their number. We seek the total elimination one day of nuclear weapons from the face of the Earth.”
Newt was right! Carter was REALLY naive.
Oh wait! THAT was THIS guy…