On the blogs and news sites I read this "Inflexible GOP should listen to Reagan on debt"
You can red the CNN Op-Ed here Now back in 1987 When Reagan gave that radio address the country only had $275 billion in deficit spending(inflation adjusted)
Now we have over $1.5 trillion!!!! The damges is here. I can't find any better of an analogy other than that of a heroin addict that needs his fix.
Speaking of Reagan here is what else Reagan did while Obama sat with his super majority and did the oposite:
1. President Reagan cut marginal tax rates. President Obama wanted to allow the largest tax hike in American history and now you don't ever hear that come up.
2. President Reagan reined-in government union power by firing striking air traffic controllers. President Obama bailed-out state government unions, hired more federal government union members, and even bought a car company for the very same union that ran it into the ground in the first place.
3.President Reagan simplified and reduced telecommunications and anti-trust regulations. President Obama expanded and complicated regulations in the health and financial sectors.
4. President Reagan returned power to the states by reducing the percentage of state expenditures that come from the federal government. President Obama, through both the failed $862 billion stimulus and the trillion dollar health care plan, has made the states more dependent on Washington than ever.
5. What about Libya? KaDaffy is still there fighting. And so are we. That's no news these days.
6. Average annualized growth during the first seven quarters of the early 1980s recovery under Ronald Reagan was 6.6%. Not coincidentally, employment grew by almost 5.3 million during those seven quarters (the equivalent of about 8 million today), and the unemployment rate dropped from 10.1% to 7.2%. Today's 9.3% is the new norm bot to mention 11.2% in California!
Its true that under Reagan, deficit spending sky rocketed compared to preceding years. But now.....deficit spending is on warp drive. I like Matts first comment the best, let's take our lumps now. For me anything is better than fantasy spending away what we pretend we have. I believe the pain we could face if we choose not to rais e the debt ceiling will be small in comparison if we choose to over spend $1.5 trillion every year. I feel basically we already HAVE painted ourselves in a corner and I have no desire to wait for the paint to dry.
