reply to post by Eurisko2012
Ok, your talking about two different things, Your talking about the recession that Reagan "fixed" and the post is talking about the national debt.
The recession may have been "fixed" by Reagan which one would argue isn't true but he certainly didn't fix the national debt at all, in fact he
probably made it worse.
"First of all, it wasn't Carter's bad economy. Carter inherited the mess from Nixon and Ford. When Carter came to power we already had
unemployment, interest rates, and inflation all in the double digits. The Republicans succeeded in blaming it on Carter in the public's consciousness
simply by repeating over and over that it was all Carter's fault, until the media picked it up and began repeating it for them. They're trying to do
the same thing with Obama now.
Secondly, Reagan 'fixed' the economy by tripling the entire pre-existing national debt. Anyone can live high off the hog for a while if they don't
mind going into serious debt. Well into his second term, Reagan was still cheerfully predicting that revenue boosts from his tax cuts would pay for
the debt. There was a modest increase in revenue but it didn't even pay the interest on the new debt. Reagan was also helped, a little, by the
collapse of OPEC and oil prices falling a bit."
I put that in quotes because it isn't originally sourced from me but I find it to be rather accurate.