Wednesday, August 28, 2013 11:32 AM
1980 to 2013 Fact Checker
Reagan ruined the Savings and Loans. Got us involved in 5 foreign conflicts.
Increased Spending by 80%. Increased Debt by 189%.
Cut 218,000 jobs per month to 175,000.
Bush I raised taxes to fight the Reagan inherited debt.
Consequently, he lost to Clinton.
Clinton signed off on NAFTA, Repeal of Glass Steagall, Modernization of the Commodities market, gave us a Surplus not a deficit. He got full employment by adding 237,000 jobs per month and, in one month, had a 3.9% unemployment. He increased the minimum wage.
Bush II took the surplus and gave the rich a huge tax cut. Then, after 9-11 initiated the invasion and rebuilding of two nations. Both were financially destitute and practically unarmed nations.
The world looked in horror and alienated 1500 Million muslims.
He implemented Part D Medicare without funding it. He did not tax to support two wars.
He increased Spending by 90%, Debt by 112% and took a surplus to a 1400B Deficit.
Obama implemented an 800B Stimulus and payroll Tax Cut and added 30,000 soldiers to the Afghan war instead of withdrawing.
In 33 years we went from a 600B Budget to 3900B. A 917B Debt to 16,700B. We added an average of 99,000 net new jobs per month from Carter's 218,000 per month.
There is plenty of mud to sling on each President.
The Democrats held the House for 40 years prior to 1994 and helped created reasonable budgets.
The Tea Party in the House ( David Koch funding) is correct on cutting government but off base on
refusal to pay our bills with tax increases on Wealth. We must support our government with adequate revenue and since top 10% own most of the wealth they must help by paying a Fair Tax.