“Ronald Reagan changed the trajectory of America in a way that Richard Nixon did not and in a way that Bill Clinton did not. Reagan was an ideological inflection point, ending a 50-year liberal ascendancy and beginning a 30-year conservative ascendancy."
Charles Krauthammer
Liberalism will never be bankrupt. And when liberals were running this country, Presidents like Kennedy and Johnson faced the 'awful' problem of revenue surpluses.
Enter the Great American welfare queen, Ronbo Reagan.
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.
The last 30 years is not a failure of liberalism. It is squarely on the backs of a revolution that was as big of a failure as the Bolshevik revolution...the Reagan revolution.
"The debt explosion has resulted not from big spending by the Democrats, but instead the Republican Party's embrace, about three decades ago, of the insidious doctrine that deficits don't matter if they result from tax cuts."
David Stockman - Director of the Office of Management and Budget for U.S. President Ronald Reagan.
"Grover Norquist has no plan to pay this debt down. His plan says you continue to add to the debt..."
Senator Saxby Chambliss (R-Ga.)