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Old 08-14-2010, 07:50 AM   #25 (permalink)
Tully Mars
Living in a Warmer Insanity
 
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Location: Yucatan, Mexico
Yeah Reagan really changed how the US looked at deficit spending and debt. Really it boiled down to as long as you cut taxes then deficit spending was fine. I think Bush Sr. tried to turn that around but really got his ass handed to him by his own party. During the Clinton years things certainly turned around, but I honestly don't think it's entirely fair to credit just him. Much of the fiscal responsibility that emerged from his time in office was the result of having the opposition party in control of both houses. They GOP forced him to do a lot of things he clearly did not want to do. Too bad they forgot all about the fiscal responsibility when Bush Jr. took office. It was amazing to listen to their arguments for cutting taxes. First it was we have all this surplus, cut tax. Then the econ. is going that great so... cut taxes. Then it was were in a deficit... so cut taxes. When regardless of the question the answer is "tax cuts" then I don't think they were seriously interested in solving any problems, just paying less taxes. I mean seriously they took the country to war, which isn't cheap. And the answer to that was "cut some more taxes."
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