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- Apr 26, 2011
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What is your alternative explanation for the prolonged growth and economic prosperity that occurred under Reagan's watch?
Simple, deficit spending. Reagan tripled the national debt during his presidency. That money was injected into the economy which would explain the rise in GDP.
Of course, I would still not say that resulted in all boats rising, which clearly didn't happen. Minimum wage was never raised under Reagan. The number living in poverty went up by a couple million. Share of total income for the bottom earners fell as a percentage of the total, and rose for those at the top.
Just because we had a good economy does NOT in any way prove that "trickle down" worked.
Between 1983 to 1990 19.9 million jobs were created. How many of them were created due to government spending?
Do you have to do drugs to believe the things you do?