Digital Dharma

The Middle Path, One Day At A Time

Busting the Reagan Myth

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…history shows that Ronald Reagan reversed a long trend of reducing the national debt as a percentage of GDP, which had been lowered by every previous president (except Gerald Ford) since the end of World War II.
Ronald Reagan exploded the federal debt, eventually to over a trillion dollars, by cutting taxes while demanding that the nation fund a huge expansion of the military. Even the Wall Street Journal at the time was aware of the unsound nature of this Republican deficit-spending scheme. They and other newspapers warned of the “baleful effects of big [government] deficits.”

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Author: Bill

Stumbling down the Middle Path, one day at a time.

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