Quote:
Originally Posted by Vendzilla
Under Reagan, we had 94 months of no recessions after his tax cuts, it happened after he left office, but you've been wrong about so many other things, I guess we should all just get use to it?
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President Reagan cut taxes from around 78% to 28% and increased government spending. When he entered office the national debt was less than 1 trillion dollars when he left office it was around 4 trillion dollars. He was the first modern day President to borrow money from a foreign country. It was he that began a policy that put this nation in a downward spiral.
The Donald's deficits will be the biggest ever in history because of his tax cuts and increased spending.
It is of course Congress that controls the purse strings but the President is culpable as it is he that has to give final approval of all budgets passed in Congress.