Dick Cheney Said, "The Debt Doesn't Matter, Reagan Proved That"

Cammmpbell

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In Richard Clarke's book he told that in George W. Bush's first cabinet meeting Cheney said, "The Debt Doesn't Matter, Reagan Proved That." He was referring to the fact that in 1981 the debt was less than $1 trillion and when George Herbert Walker Bush left office in 1993 the debt had quadrupled to more than $4 trillion.

Of course during the two terms of George W. Bush he cut taxes twice...in 2001 and 2003 and doubled the national debt from $5.7 trillion to over $11 trillion.

What he meant was, if you're rich and already have it made don't worry...the stock market will do just fine. What we're seeing now is that for 90% of Americans...it does matter.
 

OODA_Loop

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Well fuck there is your license to spend spend spend
 

Immanuel

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I have always said that Cheney is a jackass. I hope you are not asking me to change my opinion of him now!

Immie
 

DontBeStupid

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In Richard Clarke's book he told that in George W. Bush's first cabinet meeting Cheney said, "The Debt Doesn't Matter, Reagan Proved That." He was referring to the fact that in 1981 the debt was less than $1 trillion and when George Herbert Walker Bush left office in 1993 the debt had quadrupled to more than $4 trillion.

Of course during the two terms of George W. Bush he cut taxes twice...in 2001 and 2003 and doubled the national debt from $5.7 trillion to over $11 trillion.

What he meant was, if you're rich and already have it made don't worry...the stock market will do just fine. What we're seeing now is that for 90% of Americans...it does matter.
I think it's obvious what Cheney meant. The debt doesn't matter when there is a Republican President. Otherwise, it is the single most important issue of all time.
 

edthecynic

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The debt matters now.
And it mattered during Carter's and Clinton's terms, if you remember Reagan campaigned against debt when he ran against Carter, but didn't matter during St Ronnie's, Bush I's and Bush II's terms. Anyone see a pattern there?

'I don't worry about the deficit. It's big enough to take care of itself.'
Ronald Reagan

"Reagan proved deficits don't matter."
Dick Cheney
 

Avatar4321

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Funny. I thought Reagan proved it did matter. Didn't be defeat the Soviets because we out financed them?
 

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In Richard Clarke's book he told that in George W. Bush's first cabinet meeting Cheney said, "The Debt Doesn't Matter, Reagan Proved That." He was referring to the fact that in 1981 the debt was less than $1 trillion and when George Herbert Walker Bush left office in 1993 the debt had quadrupled to more than $4 trillion.

Of course during the two terms of George W. Bush he cut taxes twice...in 2001 and 2003 and doubled the national debt from $5.7 trillion to over $11 trillion.

What he meant was, if you're rich and already have it made don't worry...the stock market will do just fine. What we're seeing now is that for 90% of Americans...it does matter.
I think it's obvious what Cheney meant. The debt doesn't matter when there is a Republican President. Otherwise, it is the single most important issue of all time.
care to Compare the Debt and Deficit as a % of GDP between today and when Reagan was in Office?

LOL
 

Charles_Main

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funny. I thought reagan proved it did matter. Didn't be defeat the soviets because we out financed them?
no
Funny, that is what most Historians, and the Russian themselves say. Our spending, Mostly on Modernizing our Nuke Arsenal was to much to match for Russia, they tried and collapsed. Period.
 

Charles_Main

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The debt matters now.
So why now? Why didn't it matter when Republicans spent like Amy Winehouse in Amsterdam on two (unpaid for) wars, Medicare Part D (unpaid for) and tax cuts (unpaid for)?
It mattered then, and I for one said so. I screamed about Medicare Part D for example and that it was irresponsible and unsustainable.

Why do you guys keep bring up the wars? they at their most expensive Point were a total of 105 Billion a year. A mere drop in the bucket compared to the Amounts of Deficit spending were doing today.

Obama's new Job bill alone could have funded both wars for 4 years.
 
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"The debt doesn't matter" when others are expected to pay it off for the clowns who created the economic circumstances to begin with. And why are dragging the mummy out from his tomb anyway?
 

edthecynic

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DontBeStupid

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In Richard Clarke's book he told that in George W. Bush's first cabinet meeting Cheney said, "The Debt Doesn't Matter, Reagan Proved That." He was referring to the fact that in 1981 the debt was less than $1 trillion and when George Herbert Walker Bush left office in 1993 the debt had quadrupled to more than $4 trillion.

Of course during the two terms of George W. Bush he cut taxes twice...in 2001 and 2003 and doubled the national debt from $5.7 trillion to over $11 trillion.

What he meant was, if you're rich and already have it made don't worry...the stock market will do just fine. What we're seeing now is that for 90% of Americans...it does matter.
I think it's obvious what Cheney meant. The debt doesn't matter when there is a Republican President. Otherwise, it is the single most important issue of all time.
care to Compare the Debt and Deficit as a % of GDP between today and when Reagan was in Office?

LOL
Sure.

1982
Budget = 23.1% of GDP
Revenue = 19.2%
Deficit = 4%

2010
Budget = 23.8% of GDP
Revenue = 14.9%
Deficit = 8.9%

Hmm. Now, what could be the problem today that wasn't the problem during Reagan?

Hmm.
 

The Rabbi

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The debt matters now.
So why now? Why didn't it matter when Republicans spent like Amy Winehouse in Amsterdam on two (unpaid for) wars, Medicare Part D (unpaid for) and tax cuts (unpaid for)?
Um, because debt to GDP is way higher now than it was then, and that's the only figure that really matters? Or is that too complicated for ya, Nancy?
 

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