Tax cuts / increases, Deficits and Ronald Reagan

http://www.thenation.com/article/157531/new-congress-and-coming-class-war "All I want for Christmas is an opposition I can negotiate with." Well, Obama had one, briefly, so long as he was willing to cave in to its demands to bust the budget with a massive gift of more than $130 billion in tax cuts to the wealthiest 2 percent of the country and the gutting of the estate tax. That cleared the decks for other "victories" and "compromises" and led to widespread insider approval of Obama's ability to "make the system work." Like 13-year-olds at the movies, pundits love "action," period, never mind its consequences.

http://www.thesoapboxroadshow.com
Are you ready for a huge number? The total national debt now stands at over $12 trillion. Much of this national debt began accumulating during President Ronald Reagan's administration. Reagan cut taxes but increased military spending. In fact, Reagan never submitted a balanced budget to the Congress during his entire eight-year term.

Likewise, during his eight-year tenure, President George W. Bush never submitted a balanced budget to Congress either, as he cut taxes but did not cut federal spending. The wars in Iraq and Afghanistan, started under the Bush administration, have cost the nation around $726 billion and $275 billion, respectively.

Finally, the deep economic recession which began in the last year of Bush 43's administration caused the government to go yet deeper into debt, as tax revenues fell sharply and expenditures such as unemployment compensation, emergency tax breaks and bank bailouts increased.

The three biggest programs in the federal budget are: Social Security spending, Medicare spending and spending on national defense. I don't hear much clamoring (even from the tea party people) to cut spending in any of these three areas.

from comments: SO what is the WORST thing that Reagan did of the long list of great evil and stupid policies during Reagan? Was it supportin Satanic pedophiles? Iran/Contra? Aiding Osama and the Taliban? The bogus war on drugs where Reagan smuggled drugs into the US and sold them to American kids? The S&L crisis or the stock market collapse? I think that worst was appointing Alan Greenspan to head the FED. Greenspan was a follower of AYN RAND, the screwball free market nutjob.

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[SeaWolfPac]

"They want to destroy UNIONS so that everybody makes minimum wage(like in Texas). - poindexterwitkowsky" The unions higher wages help cause inflation. If union wages didn't exist, employment would be closer to 100% (since now businesses could afford more employees) and people could afford to live off of minimum wages, with lower inflation. Union membership and (the requiring of) licenses cause false scarcity, which in turn inflate wages. Even economists Drs. Sowell & Williams agree.

[ZEINKIENZIAN]

The deficit was 6% GDP in 1983 and fell to just 3% GDP in Reagans final budget... Facts hurt don't they my liberal friends....

[DjDialogic]

Regan used tax money to train, arm and empower Bin laudin, Sadam Husain, and Iran.

That is all that needs to be said about Regan's presidency.

Of course you can also mention the rape and pillage of south America too.

[kn9ioutom]

TODAY'S REPUBLICONS WOULD CONSIDER PRESIDENT EISENHOWER A DEMOCRAT !!!

[kn9ioutom]

RONALD WILSON REAGAN ! COUNT LETTERS IN EACH WORD !  666

[Ralphdraw3]

@SMWhit3out You give me one single program that Reagan eliminated. Then give me one single program that Reagan succeeded in cutting.

[SMWhit3out]

@Ralphdraw3 Reagan increased the size of government(Meaning yes Military, not, failures such as, the Post office, DMV, and other wasteful governmental programs that should be in the private sector.) It was due to the war that cause the second largest nation at that time to completely collapse. Reagan did not get his way during office.

[Ralphdraw3]

@SMWhit3out Reagan started the period of large deficit spending. He cut taxes and INCREASED the size of government (mostly the military and social security) which leads to large deficits. And wasn't it Cheney who said "Deficits don't matter."?

[SMWhit3out]

@Ralphdraw3 True, but he could have EASILY EASILYYYYYYYYYY Pulled the troops out of both Afghanistan and Iraq. And EVEN NOW after we WON, we got osama there are no talks of even reducing the size of useless wars like he promised. And don't give me shit about none of this being his fault. Its been TWO YEARS and he has only done the WRONG THING. Remember Reagan saving everyone from not only the cold war but the 81 recession?

[Ralphdraw3]

@SMWhit3out The two wars, Iraq and Afghanistan were not caused by Obama. Neither was the deepest recession since the Great Depression.

[SMWhit3out]

@Ralphdraw3 Cold war, Recession not cause by Reagan.