Wednesday, November 28, 2012

The Facts About Presidents, Spending and Deficits Since Reagan

The Facts About Budget Deficits: How The Presidents Truly Rank - Forbes

When looking at the facts, the following things  need to be remembered:

  • CONGRESS sets the budget of the US. Reagan was hurt badly by a Democrat congress, Clinton helped mightily by Republican one. 
  • REAL GROWTH is the ONLY hope!! Not inflation, not borrowing, not even consuming. Turning the nation back to making things of value, selling them at a profit, spending less than that profit and investing the rest in something that goes up in value!
  • Reagan did a lot of great things, but he spent a lot of money and a lot of the "growth" was just borrowed money --- public and private. 
  • The late '90s Internet Bubble  and '03-'07 Housing Bubble are very hard to factor in this ... Not much to be done about it, just a fact. 

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