This is worth spending a few minutes reading.
In the 35 years following World War II, (some) Republicans and (mostly) Democrats steadily and responsibly reduced government debt from 130% to 45% of GDP. (And worth noticing: that 130% figure preceded two decades of the fastest prosperity growth in American history.)
Then came 1980. The Reagan/Republican revolution. Aside from a brief respite under Clinton, government debt has been heading rapidly north ever since.Debt was reduced under every president since World War II, with three exceptions: Reagan, Bush, and Bush. (And Obama, who had the numerator, GDP, pulled out from under him before he even set foot in the oval office.)
Eighty years of history tells us one thing for certain: if you want to get debt under control, don’t rely on the Red-Ink Republicans.
It’s important to note that our nation’s budget deficit and national debt increased tremendously under Republican President Ronald Reagan, who for some reason has become the “patron saint” of today’s Republican Party despite his proven history of fiscal irresponsibility.
Thanks Zach. GOP controlled corporate media has cleaned the Dem’s clock on this. If you repeat a lie often enough, folks start to believe it.
Reagan showed the Republicans how to get America to believe a screen play instead of the realistic scenario.