OohPooPahDoo
Gold Member
So that would make Ronald Reagan the father of progressivism.
No, the Progressive era really started with Wilson. Every since, it's been bigger and bigger government, more and more debt, and low and behold, an even wider wealth and income gap. Central planners suck, all of them.
You have a cognitive brain defect. The debt didn't start with the progressive era. We know EXACTLY when our debt started.
Where did our debt come from? When did massive debt become part of the American economy?
Reagan switched the federal government from what he critically called, a tax and spend policy, to a borrow and spend policy, where the government continued its heavy spending, but used borrowed money instead of tax revenue to pay the bills. The results were catastrophic. Although it had taken the United States more than 200 years to accumulate the first $1 trillion of national debt, it took only five years under Reagan to add the second one trillion dollars to the debt. By the end of the 12 years of the Reagan-Bush administrations, the national debt had quadrupled to $4 trillion!
And he did so at a time when interest rates were relatively high. The intent, obviously, was to place a burden on the taxpayer to pay interest payments to the mostly private, mostly wealthy, entities that own U.S. Treasury obligations, while at the same time lowering the tax burden of the upper-class through tax cuts.