Quote:
Originally Posted by finnbow
My post wasn't intended to compare our financial wellness then and now, but to point out that the economic philosophy that started the whole ball rolling was Reaganomics (an assertion also made back then and recently by Reagan's budget director).
Due to the deification of Reagan, it has become impossible for the GOP (and even the Dem's to a lesser extent) to shed itself of his (failed) Supply-Side philosophy because of their fealty to all things Reagan.
It's a no-brainer that the government can spur economic growth by cutting taxes while increasing spending. Reagan proved it and now Obama is doing exactly the same thing. At some point, however, the bills must be paid.
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for the hundredth time, when folks are out of work you increase benefits to those people and increase the tax on those that are working to pay for it.
Everything stays balanced and economies left un-manipulatory auto restore.