re: #204 ProLifeLiberal

I’m pretty sure Clinton played a big role in the stamping out of the deficit. Let’s not also forget how much of our current debt comes from the Reagan Administration, and the 2 Bush ones. That tax cut wasn’t fiscally conservative either. Republicans talk a big game, and end up doing worse than the other guys.

During Jimmy Carter’s last year in office (1980), inflation averaged 12.5%, compared to 4.4% during Reagan’s last year in office (1988). Over those eight years, the unemployment rate declined from 7.1% to 5.5%.

GDP almost doubled from 1981 to 1989. During Reagan’s presidency, federal income tax rates were lowered significantly with the signing of the bipartisan Economic Recovery Tax Act of 1981 which lowered the top marginal tax bracket from 70% to 50% and the lowest bracket from 14% to 11%. During the Reagan Administration, federal receipts grew at an average rate of 8.2%.

One little issue. The democrat party controlled the House of Representatives during the ’80s. So with all this extra revenue coming in, couldn’t they at least try to control spending? Yeah, right. Let’s see. Reagan asks the dems to cut back on anything and the media/democrat party yells, “War on the poor! War on the children! Tax cuts for the rich!” Old reliable.