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Greg Cronk
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THEBOB & dan - At the time Regan's economics made sense, right now they make sense, but during the previous Administration they didn't that's what's led us to the disaster we're in as far as the economy right now. Look where we are now, we're in the worst depression since the 1930's, due to 4 major reasons. A) Two major military campaigns both financed by the Government. Prior to this only Vietnam was totally financed by the Fed, and it led to an economic turn down also, other long term campaigns had War Bonds backing them. Or like the Gulf War in 90 were so short it didn't really hurt much. B) Bush's "Health Care Reform" that tied the Prescription Drug Plan to the Pharmaceutical companies at a time when the largest number of people ever were about to enter eligibility, resulting in higher costs for the Government and rising drug prices, without increases in funds to be payed out. C) Removal of restrictions that facilitated rampant sub-prime lending by financiers. Granted Bush didn't sign a repeal, he just let them lapse instead of signing a continuation. D) Tax Cuts that removed the then Government Surplus trend started by Clinton's budget. People can gripe and scream about Obama spending like he has, but some of that money comes from economic safe guards put into place through older laws, other parts are doing exactly what has to be done in order to stimulate the economy. If money isn't there to circulate, it can't recover and to get it in circulation it has to be spent. To be honest if you go and research much of Regan's economic actions they are very similar to Obama's in many ways.
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Feb 6, 2010