Moorelloyd
Gold Member
- Aug 5, 2016
- 575
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- Banned
- #1
Liberals Are Trying Hard to Tarnish Reagan's Legacy
There are several far-left agents writing letters to the editor of the local Las Vegas Sun newspaper of the government workers union sympathies. Those writers say that Reagan increased income taxes and in 8 years boosted up the national debt by almost $2 trillion. How the history gets corrupted in the recounting. First, that low-IQ bloviating gasbag Carter (you remember that “nukelar engineer”?) left the country staggering under an inflation rate of 13% and an unemployment rate of 10% (anybody remembers “the misery index” of 23% which is the sum of the two?). The prime interest rate for the best companies was 21%; the regular 30-year mortgage interest rate was 16%. Reagan cut all the income tax rates in three stages (the Democrat majorities in Congress would not let him do it in one swell swoop). After 6 years the tax receipts by the IRS doubled ending with major surpluses. The Dow Industrial Index went from 550 to 4,000. To “save” the failing savings & loan companies Carter had allowed these to engage in commercial building lending (the repeal of Glass-Stiegel Act), thus resulting in massive failure of those S&L companies; to reimburse their depositors Reagan was forced to spend $560 billion, adding that amount temporarily to the deficit. Carter also introduced the so-called Community Reinvestment Act which resulted in the crash of the housing market in 2007-2008 when pushed by the Democrat majorities under threats of huge fines and jail terms by the Frank-Dodd-Pelosi-Reid criminal combine – when some 600,000 homes were “sold” to “underserved minorities” who had no snowball’s chance in hell to ever pay for them. Later under B. Hussein Obama (our Marxist Muslim president from Kenya) both Fannie May and Freddie Mac went bankrupt and were nationalized with about $180 billion in the red – so far. Reagan’s budget proposals to the Congress were met with derision: the Democrat majority leader Tip O’Neill would come out on the steps of his building every year carrying Reagan’s budget books, and saying DOA (“dead on arrival”) would throw them into a conveniently placed garbage bin. By the end of his presidency the budget was in surplus; the inflation was below 4%; and the unemployment rate was 4.5% (normal bottom rate in boom times). That boom carried into the end of the Clinton presidency in 2000, when that impeached disbarred felon was disciplined by House leader Gingrich. Reagan’s increased military expenditures caused the fall of the Soviet Union’s slave empire in 1990-91. Also, Reagan only nullified Carter’s military reductions. And this Stalinist writer calls this a failure?
There are several far-left agents writing letters to the editor of the local Las Vegas Sun newspaper of the government workers union sympathies. Those writers say that Reagan increased income taxes and in 8 years boosted up the national debt by almost $2 trillion. How the history gets corrupted in the recounting. First, that low-IQ bloviating gasbag Carter (you remember that “nukelar engineer”?) left the country staggering under an inflation rate of 13% and an unemployment rate of 10% (anybody remembers “the misery index” of 23% which is the sum of the two?). The prime interest rate for the best companies was 21%; the regular 30-year mortgage interest rate was 16%. Reagan cut all the income tax rates in three stages (the Democrat majorities in Congress would not let him do it in one swell swoop). After 6 years the tax receipts by the IRS doubled ending with major surpluses. The Dow Industrial Index went from 550 to 4,000. To “save” the failing savings & loan companies Carter had allowed these to engage in commercial building lending (the repeal of Glass-Stiegel Act), thus resulting in massive failure of those S&L companies; to reimburse their depositors Reagan was forced to spend $560 billion, adding that amount temporarily to the deficit. Carter also introduced the so-called Community Reinvestment Act which resulted in the crash of the housing market in 2007-2008 when pushed by the Democrat majorities under threats of huge fines and jail terms by the Frank-Dodd-Pelosi-Reid criminal combine – when some 600,000 homes were “sold” to “underserved minorities” who had no snowball’s chance in hell to ever pay for them. Later under B. Hussein Obama (our Marxist Muslim president from Kenya) both Fannie May and Freddie Mac went bankrupt and were nationalized with about $180 billion in the red – so far. Reagan’s budget proposals to the Congress were met with derision: the Democrat majority leader Tip O’Neill would come out on the steps of his building every year carrying Reagan’s budget books, and saying DOA (“dead on arrival”) would throw them into a conveniently placed garbage bin. By the end of his presidency the budget was in surplus; the inflation was below 4%; and the unemployment rate was 4.5% (normal bottom rate in boom times). That boom carried into the end of the Clinton presidency in 2000, when that impeached disbarred felon was disciplined by House leader Gingrich. Reagan’s increased military expenditures caused the fall of the Soviet Union’s slave empire in 1990-91. Also, Reagan only nullified Carter’s military reductions. And this Stalinist writer calls this a failure?