Do you remember Reagan deficit? - Democratic Underground

hertopos

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Tue Nov-09-04 11:33 AM
Original message

Do you remember Reagan deficit?

Then, Japanese government bought a lot of American debt to support Reagan economy.

I wonder who would support American deficit this time. It will be very interesting when and if majority of the world stop using a dollar as a base currency and switch to euro.

Unfortunately, or fortunately for U.S., some countries still have too much dollar so it will take sometime...

Hertopos

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ramapo

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Tue Nov-09-04 11:36 AM
Response to Original message

1. Better yet...

Do you remember Reagan beating the crap out of Carter during the debates in regards to the deficit? A stack of dollar bills reaching halfway to the moon or some such thing.

And to think that deficits don't matter anymore

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RubyDuby in GA

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Tue Nov-09-04 11:44 AM
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2. I believe we're all still waiting for Trickle Down

to actually trickle down to us little people.
Damn Republicans...can't manage a damn dime. They suck.

I hate Republicans.

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seasat

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Tue Nov-09-04 11:46 AM
Response to Reply #2

4. How come the trickle down...

feels warm wet and is yellow in color?

:evilgrin:

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Bernardo de La Paz

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Tue Nov-09-04 11:45 AM
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3. Bush Deficit / Republicans are "Borrow and spend"

Bush promised to avoid deficits in 2000. Look at the results.

Republicans bash Democrats as "tax and spend". Democrats don't bash Republicans enough for being "borrow and spend".

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phantom power

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Tue Nov-09-04 11:49 AM
Response to Original message

5. hard to forget, we're still paying for it.

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snippy

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Tue Nov-09-04 11:54 AM
Response to Reply #5

6. Interest payments are the fifth largest item in the federal budget.

In just a few years interest payments will be the third largest item. We then will be paying more in interest than we will be spending on defense. And to top it all off, we are borrowing the money to make the interest payments. This is what happens when people vote republican.

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phantom power

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Tue Nov-09-04 11:57 AM
Response to Reply #6

7. that's actually better than I thought. I was under the impression

that 30% of the federal budget was allocated to paying back debt.

Either way, whenever I hear somebody complaining about "high taxes", I remind them that the best way to reduce taxes would be to just balance the goddamned budget.

But no. Instead, we're going to make it worse.

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klook

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Tue Nov-09-04 12:05 PM
Response to Original message

8. They want to drown it in the bathtub

Never forget that the ultimate goal of the Right (led by Grover Norquist) is to "reduce the size of the federal government to the point that it can be drowned in the bathtub."

These people are very serious about putting the federal government out of business, and privatizing everything. Deficits are a tool to that end.

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Robert Oak

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Tue Nov-09-04 12:59 PM
Response to Reply #8

9. I agree and to me it is treason

I repeatedly experience "shock and awe" in reading their papers, but the more I read, the more
I am convinced they just want the United States of America, as a nation state to collapse and in it's stead, a coalition of multinational corporations "doing business" including war.

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Lefty48197

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Sun Nov-14-04 01:07 PM
Response to Original message

10. Reagan's debt will be around for the next 100 years

our unborn great grandchildren will suffer from his irresponsibility.

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