Reagan's Legacy?

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Postby mandos » Sat Jul 28, 2001 12:05 pm

I tend to disagree there.<BR>The staggering debt built by Reagan's defense build-up (tripling the ND) and putting us, for the first time in U.S. history, into the Debtor Nation catagory, is what brought about the recession of the Bush years.<BR><BR>Reagan's 'Voodoo Economics' (Bush's term) hid a catostrophic undermining of the poors ability to even tread water. <BR><BR>Rising prices and an actual lowering of the average 'real world' wage is what gave us the embarrasingly high numbers of street people during Reagan's terms. Despite his assertions that '...they choose to live out there...'<BR><BR>His removal of things like the 'housing' from the government's cost of living index helped paint a rosey picture of Life in America.<BR>But if you were not employed by the defense industry or it's satallites, you were asking, "Would you like fries with that?".<BR><BR>Bush lost re-election during the debates, when asked "How has the recession affected you or anyone you know?"<BR>His reply was to the effect "I don't know what your talking about."<BR>Proving how out of touch he was. <BR>He might well have said "Let them eat cake."
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Postby Fatty_Bolger » Sat Jul 28, 2001 4:39 pm

Tuor: so what? If the 90s boom was the result of the 80s Reagan era, then the economic situation of 1980 was the result of Nixon policies 10 years before?<BR>You have to face it, there was a major boom,d ue to huge expenses in military industry, then for some reason it crashed at the end of Reagan presidency, the same way the boom of the 90s ended just at the end of CLinton's era (I refer to the period beginning in March 2000 when makrtes' growth stopped once and for all).<BR>The current recession is partly ascribed to Bush by some, Reps said it was the policies of CLinton, the last 7 years. Now, in fact, under both hypotheses, Reagan era caused the 1987 crash, either because it happened under his presidency, either because he massively affected US economy the 7 previous years.<BR>You could try to argue that Bush Sr helped to turn the tide and create the 90s boom, it would be more plausible. But I'm not even sure he did much to fight the recession, except bombing Iraq but that helped mostly the military industry, far less the computer and biotech industries that were massively the cause of the 90s boom.<BR><BR>Gormegil: I assume you're joking <img src="i/expressions/face-icon-small-smile.gif"border=0> Cutting some 4 or 5 bio yearly, when the increase in military budget was probably 10 times bigger, couldn't help. The only way of avoiding massive deficits would've been to increase taxes not to cut them.<BR>So, contrary to what peopel think, the massive arms race eventually had an impact not too far from the one it had on USSR, basically by cutting social depenses and with harsh capitalism the standard of living of most of the people decreased. The only real source of relief was the decrease in oil prices. And if you think it's pure liberal nonsense, you have to face facts, namely that the average revenue of a US inhabitant in 2001 isn't higher than in 1970 (in constant $, that is if you modify it by the inflation of the last 20 years).<BR><BR>Mandos: if Bush said "Since they don't have bread why don't they eat cake?", it could have been interesting. Do you think he would've been decapitated and his children executed by angry revolutionaries <img src="i/expressions/face-icon-small-happy.gif"border=0><BR>
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