Quote:
Originally Posted by CJ7
Reagan raised the debt 189% and left Bush 1 a recession
ring any bells?
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The debt increase under Reagan was not the result of lowering taxes. Reagan lowered the tax rates and DOUBLED THE REVENUE! COG was right about you; you obviously don't understand much of anything. George HW Bush did not inherit a recession from Reagan. He inherited a growing economy.
On the other hand, George W Bush did inherit a recession from Clinton, and contrary to popular belief, Clinton did not inherit a recession from George HW Bush. The economy was growing at five percent in last quarter of George HW Bush's administration.
Reaganomics Vs. Obamanomics: Facts And Figures
Reagan's economic policies amounted to the most successful economic experiment in world history. The Reagan recovery started in official records in November 1982, and lasted 92 months without a recession until July 1990, when the tax increases of the 1990 budget deal killed it. This set a new record for the longest peacetime expansion ever, the previous high in peacetime being 58 months.
http://theccpp.org/2011/05/reaganomi...figures-1.html