The Picture backdrop at Reagan library debate 
It should be framed in gilt. The decade of the 80s begat the RR tax-cut and job-export policies (the notorious "twin deficits" of trade and federal budgeting) that flipped the US abruptly to net debtor nation status.
This was the natural outcome of "less is more" tax optimism ideology.
The roaring 80s was the first modern time when the country wasn't at war that the U.S. turned to finance the economy by giving foreigners ownership of more assets of ours than we had a stake in theirs.
The huge 2001 and 2003 tax cuts under Bush didn't help (way cool graphic),
Supply siders, take note.
"Less" has not become more -- except more debt.
KEYWORDS: supply-side economics, Ronald Reagan, tax cuts, international debt
Sign up for a Complimentary Member Account... Join the community! It's fast. And it'll allow you to take advantage of all this site's great features!
| < Tax cuts vs Social Security, dollars at stake | A Jobs Recovery - but are lawmakers cutting positions just as quick as they can? > |
