Quote:
Originally Posted by transjen
All that was need was more GOP leadership and Regannogmics after all look what 8 years of deregalation and trickle down did for us Regan's trickle down only lead to a sea of red ink in the 80s and W was even worse but it appears that the GOP is fine with a sea of red ink as long as there is tax cuts for billonairs but the moment a dem gets in power all of a sudden they are worried about the debit
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Reagan inherited one SERIOUSLY fucked-up mess from Jimmy Carter, and yet still turned things around and oversaw one of the largest expansions of economic growth in all of American history. People were HAPPY with the Reagan years, which would explain WHY he won over Carter and only 4 years later won reelection in a 49 state crushing landslide. And keep in mind that to this day, in all polls of the American people, Reagan STILL comes out as one of the top 5 FAVORITE Presidents in all of American history.
Now, did Reagan leave a deficit? Sure he did. But he also had to fix so many of the things that Carter screwed up that he had to spend even as we were growing. But even the amount Reagan left was able to be reigned back in by Clinton and the Newt Gingrich-led GOP Congress, which only goes to show that Reagan deficit was actually something that was manageable. In other words, Reagan spend "about" the right amount. So to compare the Reagan deficit to W. Bush's isn't accurate -- they weren't even in the same league.
Furthermore, if you've followed this thread, you'd see that those of us that are more Conservatively minded WERE mad at W. (and still are) for the spending that he did. Hey, we're playing fair. That's why he pissed us off, too. In the end, Bush spent too much and created a $1 TRILLION dollar deficit all his own.
Of course, right now I'd be ECSTATIC if we only had Bush's deficit to deal with. Because now we've got Obama who is just one year alone...hell, in just the first 4 months of his administration...will now TRIPLE that number to between $2.5 and a full $3 Trillion.
And even more jaw-dropping and truly insane, Obama's economic plan calls for trillion dollar deficits
every year for the next 10 years. So if we're gonna do a side-by-side comparison, Bush's ONE trillion deficit compared to Obama's THIRTEEN trillion looks amazingly great right now to a helluva lot of people and economists, most of whom are now actively using the phrase "an unsustainable deficit" because they feel this is all going to come back and SERIOUSLY bite us in the ass over the next decade, as the bills come due on Obama's programs.
So, I'm glad you think CNN told you things are getting better -- but they're not. The only reason Wall Street was up about 200 points today is because the housing market numbers weren't nearly as bad as people expected...the only problem being, the only reason they WERE good is because some of the TARP money was reaching banks (and in turn lenders) to close on pre-existing and outstanding home sale mortgages. The problem with that being that many of the people now getting these bank loans -- in other words, who had their paperwork held up -- are just like the people who got us into the mess to begin with. Namely, they shouldn't be buying homes anyway. So in some regards this is like a dog chasing his own tail and running in circles. Once again, we're only setting ourselves up for another fall down the road.
And the other reason Wall Street was up today was because people were scrambling to scoop up stocks before the Treasury Department officially releases the banking industry "Stress Test" results -- which the Obama crew purposefully held back because it's already been leaked that the banks they tested did NOT do as well as it had been hoped, and thus even MORE tax payer money will probably have to be given to them.