mpg
DP Veteran
- Joined
- Oct 22, 2005
- Messages
- 7,795
- Reaction score
- 1,784
- Location
- Milford, CT
- Gender
- Male
- Political Leaning
- Libertarian
You blamed the deficits during the Reagan years on Reagan. Did you forget? You weren't talking about W. My response was that the spending increases were the work of the Democrats in Congress. I'm aware that he increased defense spending, but that was a relatively small part of the budget. The Democrats always accused him of "slashing programs to the bone" and "throwing the elderly out in the streets". They were supposedly shocked and appalled by his lack of domestic spending. Some of his budgets were pronounced DOA (dead on arrival) when submitted to Congress, because of the lack of spending.Iriemon said:Revenues went up, but revenues are expected to go up with economic growth. Revenues in real terms increased 25% from 81-88, but the economy grew 30%. But so does spending -- everything cost more and big programs like SS are tied to wage increases. Spending grows unless programs are cut.
I don't recall Reagan being a really big fighter against spending -- as I recall, he pushed for (and got) major increases in defense spending.
Same with Bush2 -- in neither '00 or '04 did you hear him campaigning on the promise of slashing spending by 20% to offset the effects of the tax cuts. Instead, he created a new major program, got into two wars, and embarked upon a major defense spending increase.
You did not hear Reagan or Bush2 talk about slashing spending because that is politically unpopular. So they sold their tax cuts on the supply side theory -- their selling point is by cutting taxes, the economy would have super-growth that would raise revenues -- so that you would not have to cut spending. Sounds too good to be true; and it was. There was no super growth -- and revenues plummeted after both the '81 tax cuts and the Bush tax cuts in '01-03.
In both case you had tax cuts without corresponding spending cuts. The results were massive deficits in both cases.