otto105
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Lyndon Baines Johnson and the then Progressives did that. Social programs expand exponentially year after year. With state, local and regional governments forced to pay for federal legislation also and their own programs. Add the then space program and the Viet Nam war and its costs and we peaked out around 1970 or so.
AI OverviewLyndon Baines Johnson and the then Progressives did that. Social programs expand exponentially year after year. With state, local and regional governments forced to pay for federal legislation also and their own programs. Add the then space program and the Viet Nam war and its costs and we peaked out around 1970 or so.
During the Reagan administration (1981–1989), the United States shifted from being the world's largest international creditor nation to the largest debtor nation. This dramatic reversal was caused by a combination of fiscal policy, monetary policy, and trade factors.