Dana7360
Diamond Member
- Aug 6, 2014
- 15,147
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I agree with you on the debt.
I watched as Reagan went across this nation in 1980 telling everyone the deficit was too high, the debt was too high, taxes were too high and business was regulated too much. I watched him slash taxes and deregulated business which sent us into, at the time, the worst recession since the last republican great depression. I watched as our jobs went to Japan and as our wages started to stagnate. I saw deregulation destroy the S&L industry with the taxpayers bailing them out. I saw the car companies nearly collapse with the tax payers bailing them out. I saw him take the budget deficit from 79 billion to 155.2 billion. I saw him take the national debt from 907 billion to 2.6 trillion. He basically spent a boat load of money to get us out of his recession. He did it by wasting most of it on military spending.
I watched as the first bush take Reagan's economy to bring it to the verge of collapse with it being the worst recession since the last republican great depression. He took the budget deficit from 155.2 billion up to 255.1 billion. He took the national debt from 2.6 trillion to 4.4 trillion in just 4 short years.
I watched as Clinton raised taxes and decreased spending. He created the most jobs I had seen in my lifetime. Companies were on the beaches during spring break recruiting people in those days. People could basically write their own ticket. He took that 255.1 billion in budget deficit to a 128.2 billion SURPLUS. I watched as he slowed the growth of the national debt. He started with 4.4 trillion and ended with 5.8 trillion. In 8 years.
I watched as the bush boy destroyed all of the work we did in the Clinton years. And he did it with his first budget. Like reagan and his father before him, he never wrote a balanced budget. Even though like reagan and his father before him, he said he would. Like Reagan and his father before him he slashed taxes and spent like there was no tomorrow. Like reagan and his dad before him, he deregulated as much as he could. He took that 128.2 billion SURPLUS to a 1.4 trillion dollar deficit. Just like Reagan and his dad before him he took our budget deficit to new historic highs. He exploded the national debt from 5.8 billion up to 11.9 billion in his 8 years. He ended his term with a total collapse of our economy.
I watched as Obama did as best he could to clean up the mess the bush boy left behind. He saved us from another republican great depression. As I pointed out in other posts, he used capitalism, not socialism, to clean the mess up. He slashed the bush boy's historic 1.4 trillion dollar budget deficit down too, I was wrong in prior post, 665 billion. I watched as he took the national debt from 11.9 billion up to 19.5 billion. I watched as he took the bush boy's 10% unemployment down to 4.7%
I have been watching trump return to the typical republican economics. Slash taxes, deregulate as much as possible and spend like there's no tomorrow. He took the budget deficit from 665 billion up to 1 trillion by the end of this year. He has used socialism to bail out the farmers from the mess he caused with his tariff wars. He has spent like there's no tomorrow in what he claims is the greatest economy in the history of our nation. A time when responsible government starts to pay off the spending that was needed to prevent the bush boy's republican great recession and wars. He has taken our national debt from 19.5 trillion up to 22.6 trillion in 3 years.
If we had not followed republican economics the national debt would have been paid off by 2010 using the plan Clinton left behind. When deficit spending and the national debt is paid off, then and only then should any tax cuts happen.
The above combined with the wage gap problem has put us where we are now. Or are major contributors to it.
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