If the bottom fell out...

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Posted By: Dylan

Ofcourse its easy to like someone that issues massive tax cuts but Reagans policy paid no attention to the future and the consequences. Yes the economy recovered robustly. But despite his large tax cuts, spending grew unabated, resulting in a dramatic increase in federal budget deficits and the national debt. And to all those that love to give all the credit to Reagan for the economy and the Soviet Union collapse etc. there were other factors at play. Perhaps most importantly was Paul Volcker whose policies in the federal reserve faught the massive inflation(which were planned out and beginning to be enacted before Reagan ever took office), plus the decline in oil prices after the supply shock ended in the middle east. There's two sides to every story and yes we came out of the recession and that was good, but it also got the deficit spending ball rolling to new heights, and it has seemed that since it got rolling its continued to snowball. Its easy to cut taxes and continue to spend money... just let the next guy worry about it right? That was Regean's great plan. The trickle down effect was a good one too. Cut taxes for the very rich and it'll "trickle down" to the lower classes, YEAH RIGHT, we saw how that worked out! If you want to cut taxes fine, but dont make the next generation pay for it by deficit spending. Replublicans claim there all for a small federal government and tax cuts. Well i dont see it, all ive seen as of late is massive spending, and a federal government that becomes more powerful by the minute!