Understanding the Debt Debacle

National Debt Graph by President National Debt Graph by President In 1981, the supply siders commandeered the Reagan Presidency and employed their voodoo economics, (as George H. Bush senior had called it in 1980. ) He was saying that tax cuts would not increase government revenues. As you can see above, the Voodoo failed just as G. H. Bush predicted, and the supply siders turned a 32-year winning streak into a debt disaster that continues to this day. For 20-years, under Reagan and the Bushes, the national debt increased compared to GDP every single year. In most other years it decreased. Twenty years in a row can’t be just an accident. This trickle down economics is an ideology that makes the rich richer and through declining tax revenue the country poorer in its infrastructure. If the job creators would have taken tax cuts and created jobs in the USA it may have worked. Had the tax cuts designed to rebuild our steel industry, been linked to verified rebuilding instead of, here’s the tax cut we have faith you’ll do the right thing, may be tax cuts for business would have worked. Conservatives are quite embarrassed by this performance, so they have invented a cover story: The Democratic Congress did it. Nice try. But for 12 of the 20 years the Congress was not Democratic. Also, presidents can veto, and when it was a Democratic led Congress, it passed smaller budgets on average than the Republican Presidents asked for. Presidents propose the budget, and they have the most influence. Some think President Obama is responsible for our deficit. Some need to do research and investigate the daily rhetoric from internet and wealthy owned news propaganda outlets. Iam Loal 2319


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