Ronald Reagan was wrong! The U.S. debt versus ecomomic growth explained.

David Stockman Former Budget Director Ronald Reagan (1981-1985) explains in 45 seconds.

Category:

News & Politics

Tags:

• David Stockman
• Former Budget Director
• Ronald Reagan
• (1981-1985)
• Real Time
• Bill Maher
• middle class
• budget
• economic

[EdugeBDroN]

Saint GOP Reagan .the man screwed us to the wall and they act like he liberated Europe in 44 .

[tH31nownly]

Love this clip.

[MegaTrigi]

Internet, women in workforce and globalization also caused that employers didn t have to pay rising wages anymore after 70s. The rise of productivity and the end of labor shortage made few rich people much richer than they had been before 80s. Because the wages didn t go up, middle class people started to borrow money from those rich fellows, who have also spent their excessive wealth in lobbying and other interesting hobbies.No wonder economic growth slowed.It is just the logic of capitalism.

[sfjeff1089]

I agree with him to that extent, but he should also address the fact that economic growth slowed over that period. It should be obvious that if you let all the money accumulate in hands that buy assets but don't buy goods, you will see economic activity go down and asset bubbles form instead.

[Tippersnore]

Allah hu Akbar!

[tc545]

Are you guys stupid? The only thing he is saying is that the Republicans never followed through on their efforts to cut spending. He did not say anything about it being wrong.

[canaanav]

This guy didn't explain anything, especially economic growth. 'Growth' in the economy is change in the money supply (the M3) which is also known as inflation. Debt comes from borrowing. Spending, taxing and saving has absolutely no bearing on borrowing. We either borrow or we don't borrow regardless to how much we spend or tax. This guy really needs a reality check.

[MirageScience]

As if Democrats haven't worked to stop government spending cuts, in most places of the government budget.