Failures of Reaganomics

[protectionist]

Those who praise Ronald Reagan as a good president rarely, if ever mention his numerous (and very serious) failures. Rarely do we hear from them any mention of immigration AMNESTY, Briggs Inititative, Iran-Contra, the Lebanon Marine barracks fiasco, or the worst job growth and GDP growths since 1950.

To boot, the combination of significant tax cuts and a massive increase in Cold War related defense spending 91981-1988) resulted in large budget deficits, an expansion in the U.S. trade deficit, as well as the stock market crash of 1987, while also contributing to the Savings and Loan crisis. The ultimate cost of the Savings and Loan crisis is estimated to have totaled around $150 billion, about $125 billion of which was consequently and directly subsidized by the U.S. government. John Kenneth Galbraith called it "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time."

In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $997 billion to $2.85 trillion, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. Reagan described the new debt as the "greatest disappointment" of his presidency.

Trickle-Down Economics: Four Reasons Why It Just Doesn't Work | United for a Fair Economy

FDIC: The S&L Crisis: A Chrono-Bibliography

John Kenneth Galbraith, The Culture of Contentment. (Houghton Mifflin, 1992).

http://www.treasurydirect.gov/govt/r...ebt_histo4.htm

http://www.washingtonpost.com/wp-dyn...-2004Jun8.html

Ronald Reagan: The Presidential Portfolio: History as Told through the Collection of the Ronald Reagan Library and Museum: Lou Cannon: 9781891620843: Amazon.com: Books (see page 128)

 

[Billy000]

Those who praise Ronald Reagan as a good president rarely, if ever mention his numerous (and very serious) failures. Rarely do we hear from them any mention of immigration AMNESTY, Briggs Inititative, Iran-Contra, the Lebanon Marine barracks fiasco, or the worst job growth and GDP growths since 1950.

To boot, the combination of significant tax cuts and a massive increase in Cold War related defense spending 91981-1988) resulted in large budget deficits, an expansion in the U.S. trade deficit, as well as the stock market crash of 1987, while also contributing to the Savings and Loan crisis. The ultimate cost of the Savings and Loan crisis is estimated to have totaled around $150 billion, about $125 billion of which was consequently and directly subsidized by the U.S. government. John Kenneth Galbraith called it "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time."

In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $997 billion to $2.85 trillion, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. Reagan described the new debt as the "greatest disappointment" of his presidency.

Trickle-Down Economics: Four Reasons Why It Just Doesn't Work | United for a Fair Economy

FDIC: The S&L Crisis: A Chrono-Bibliography

John Kenneth Galbraith, The Culture of Contentment. (Houghton Mifflin, 1992).

http://www.treasurydirect.gov/govt/r...ebt_histo4.htm

http://www.washingtonpost.com/wp-dyn...-2004Jun8.html

Ronald Reagan: The Presidential Portfolio: History as Told through the Collection of the Ronald Reagan Library and Museum: Lou Cannon: 9781891620843: Amazon.com: Books (see page 128)

No doubt about it. Trickle down economics is the biggest political lie ever told. 4.6 jobs per million dollar cut is all Bush has to show for. In fact, twice as many private jobs were created in Obama's 5 years than in Bush's 8.

 

[ABikerSailor]

Reagan sucked as a president. Matter of fact, under his leadership, I actually feared for my life as a member of the U.S. military.

Why? Because there were more attacks on various U.S.O.'s while he was president than there were at any other time I served in the U.S. Navy.

Lots of people lionize Reagan, but he was a crappy president, and with the way the Tea Party is going, even Reagan (who they like to deify) couldn't be given the nod for president, because the far right has taken over the GOP.

 

[Meathead]

Reagan was a giant in an age of midgets who ushered in an age of peace and prosperity unseen since Eisenhower. For many, he cannot be forgiven for his accomplishments. The British left has the same problem with Thatcher, both who have been out of office for well over two decades.

That is proof of tremendous legacies of success. Whining will make not a whit of difference.

 

[ABikerSailor]

Reagan was a giant in an age of midgets who ushered in an age of peace and prosperity unseen since Eisenhower. For many, he cannot be forgiven for his accomplishments. The British left has the same problem with Thatcher, both who have been out of office for well over two decades.

That is proof of tremendous legacies of success. Whining will make not a whit of difference.

Okay, can you provide links that prove your statements?

I'm guessing that you can't.

Please provide links.

 

[Meathead]

Reagan was a giant in an age of midgets who ushered in an age of peace and prosperity unseen since Eisenhower. For many, he cannot be forgiven for his accomplishments. The British left has the same problem with Thatcher, both who have been out of office for well over two decades.

That is proof of tremendous legacies of success. Whining will make not a whit of difference.

Okay, can you provide links that prove your statements?

I'm guessing that you can't.

Please provide links.

Links? Hell, I was there. I watched the Soviet Union unravel. I saw the economy expand. I saw him stand up to domestic blackmailers like PATCO and international thugs like Qadaffi. I saw a revitalized America on the heels of Johnson/Nixon/Ford/Carter. In short, I saw America succeed while those who opposed it failed.

Now, if it was a link about the feeble whining of his hapless detractors you wanted, here you go:

http://www.usmessageboard.com/politics/349937-failures-of-reaganomics.html

 

[Politico]

Reagan sucked as a president. Matter of fact, under his leadership, I actually feared for my life as a member of the U.S. military.

Why? Because there were more attacks on various U.S.O.'s while he was president than there were at any other time I served in the U.S. Navy.

Lots of people lionize Reagan, but he was a crappy president, and with the way the Tea Party is going, even Reagan (who they like to deify) couldn't be given the nod for president, because the far right has taken over the GOP.

So it's Reagan's fault!!

 

[LoneLaugher]

Reagan sucked as a president. Matter of fact, under his leadership, I actually feared for my life as a member of the U.S. military.

Why? Because there were more attacks on various U.S.O.'s while he was president than there were at any other time I served in the U.S. Navy.

Lots of people lionize Reagan, but he was a crappy president, and with the way the Tea Party is going, even Reagan (who they like to deify) couldn't be given the nod for president, because the far right has taken over the GOP.

So it's Reagan's fault!!

Depends on what "it" is.

 

[CrusaderFrank]

The Left hates Reagan because he called them an Evil Empire, vowed to challenge and defeat them and caused the breakup of the USSR.

He freed hundreds of millions of people from the crushing oppression of Soviet Communism

Sent from smartphone using my wits and Taptalk

 

[Camp]

Reagan was a giant in an age of midgets who ushered in an age of peace and prosperity unseen since Eisenhower. For many, he cannot be forgiven for his accomplishments. The British left has the same problem with Thatcher, both who have been out of office for well over two decades.

That is proof of tremendous legacies of success. Whining will make not a whit of difference.

Okay, can you provide links that prove your statements?

I'm guessing that you can't.

Please provide links.

Links? Hell, I was there. I watched the Soviet Union unravel. I saw the economy expand. I saw him stand up to domestic blackmailers like PATCO and international thugs like Qadaffi. I saw a revitalized America on the heels of Johnson/Nixon/Ford/Carter. In short, I saw America succeed while those who opposed it failed.

Now, if it was a link about the feeble whining of his hapless detractors you wanted, here you go:

http://www.usmessageboard.com/politics/349937-failures-of-reaganomics.html

The Soviet Union was still standing when Reagan left office. It didn't collapse until three years after he left office. And Qadaffi kicked his ass. So did Hezbolla. Reagan made the USA look like push over punks. There was no peace during the Reagan era. American's were constantly being kidnapped, murdered and blown up by terrorist while at the same time he conducted a secret illegal war in Central America.

 

[Meathead]

Okay, can you provide links that prove your statements?

I'm guessing that you can't.

Please provide links.

Links? Hell, I was there. I watched the Soviet Union unravel. I saw the economy expand. I saw him stand up to domestic blackmailers like PATCO and international thugs like Qadaffi. I saw a revitalized America on the heels of Johnson/Nixon/Ford/Carter. In short, I saw America succeed while those who opposed it failed.

Now, if it was a link about the feeble whining of his hapless detractors you wanted, here you go:

http://www.usmessageboard.com/politics/349937-failures-of-reaganomics.html

The Soviet Union was still standing when Reagan left office. It didn't collapse until three years after he left office. And Qadaffi kicked his ass. So did Hezbolla. Reagan made the USA look like push over punks. There was no peace during the Reagan era. American's were constantly being kidnapped, murdered and blown up by terrorist while at the same time he conducted a secret illegal war in Central America.

I am quite sure you're getting the hapless Carter mixed up with Reagan when it comes to impotency.

It is actually a bit ironic that some want to blame Reagan's policies for a economic collapse 20 years after he left office, but are pained to give him credit for the Soviet collaspe 3 years after his administration.

This bird has flown Camp, and we have had our chat about feeble whining, right?

 

[Billy000]

The Left hates Reagan because he called them an Evil Empire, vowed to challenge and defeat them and caused the breakup of the USSR.

He freed hundreds of millions of people from the crushing oppression of Soviet Communism

Sent from smartphone using my wits and Taptalk

It's amazing how much you don't understand about the left.

 

[Moonglow]

The Left hates Reagan because he called them an Evil Empire, vowed to challenge and defeat them and caused the breakup of the USSR.

He freed hundreds of millions of people from the crushing oppression of Soviet Communism

Sent from smartphone using my wits and Taptalk

The cause of the Soviet break up had more to do with it than just Reagan, by doing this you undermine the hard work many people died for in the 40 years of Soviet tyranny and the churches role in helping to throw off Soviet rule...In the Soviet Union itself the system collapsed upon itself because the West was able to out produce and outsmart the Soviets. Reagan did nothing compared to Gorbachev and his reforms....

What I dislike is how Reagan and Bush pushed for most favored nation position for China so we could open markets there. Even though 50 million Chinese lost their life to the communist during Mao's reign..

 

[Iceweasel]

We really could use some of Reagan's failures right now.

 

[Moonglow]

We really could use some of Reagan's failures right now.

Reagan did not start the Silicon Valley tech revolution, it started in the late '60's and finally flourished in the mid eighties with the mass production of word processors and computers....

 

[P@triot]

Real per-capita disposable income increased by 18% from 1982 to 1989, meaning the American standard of living increased by almost 20% in just seven years. The poverty rate declined every year from 1984 to 1989, dropping by one-sixth from its peak. The stock market more than tripled in value from 1980 to 1990, a larger increase than in any previous decade.

Reaganomics Vs. Obamanomics: Facts And Figures

 

[P@triot]

Real per-capita disposable income increased by 18% from 1982 to 1989, meaning the American standard of living increased by almost 20% in just seven years. The poverty rate declined every year from 1984 to 1989, dropping by one-sixth from its peak. The stock market more than tripled in value from 1980 to 1990, a larger increase than in any previous decade.

Reaganomics Vs. Obamanomics: Facts And Figures

I think the point highlighted above, more than any other, is why liberals lie about the Reagan era. The parasites like protectionist and bikersailor don't want to have to provide for themselves. And their masters (Obama, Pelosi, Reid, etc.) don't want people off of the government plantation because it ensures the power they crave.

 

[Iceweasel]

We really could use some of Reagan's failures right now.

Reagan did not start the Silicon Valley tech revolution, it started in the late '60's and finally flourished in the mid eighties with the mass production of word processors and computers....

Reagan was president from 1981–1989. Prior to that he served as the 33rd Governor of California (1967–1975). Ronnie, where are ya?!

 

[CrusaderFrank]

The Left hates Reagan because he called them an Evil Empire, vowed to challenge and defeat them and caused the breakup of the USSR.

He freed hundreds of millions of people from the crushing oppression of Soviet Communism

Sent from smartphone using my wits and Taptalk

It's amazing how much you don't understand about the left.

I understand the Left perfectly well

 

[P@triot]

No doubt about it. Trickle down economics is the biggest political lie ever told. 4.6 jobs per million dollar cut is all Bush has to show for. In fact, twice as many private jobs were created in Obama's 5 years than in Bush's 8.

It's amazing how liberals claim that "trickle down" is a "lie". It's literally like saying that the sun is a "lie". Or the world being round is a "lie". There has never been an economic system in world history (and there never will be) that doesn't operate off money at the top "trickling down".

Under communism, the elite (Castro, Stalin, etc.) feast in tremendous wealth and allow some to "trickle down" to the masses.

The difference with capitalism is that is creates a much larger elite and forces them to "trickle" wealth "down" as they need the human capital for their operations. Stalin and Castro forced people at the barrel of a gun, so they could decide to shut that "trickle" off at any moment they wanted.

It's a simple fact that in the history of the world, a person in poverty has never hired anyone. They never created a single job. They've never signed a single check.

I would challenge people like [MENTION=33739]Billy000[/MENTION] to show a single system in world history in which wealth did not "trickle" down from the top. Hell, I would challenge people like Billy000 here to even MAKE UP a system in their typical liberal-unicorn fairytale world where wealth does not "trickle" down. They can't do it. All they can do is piss and moan about the monumental success of the Reagan policies out of fear that someday the American people might wake up and stop letting these parasites mooch off of them.