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re: Lou Holtz. Is he right or is he wrong?
Posted on 1/20/23 at 9:42 am to Cheese Grits
Posted on 1/20/23 at 9:42 am to Cheese Grits
quote:
Politics aside Reagan was a sunshine pumper as he had no solution either but he did load up on debt and went on a spending spree and was viewed as a great guy. At least Nixon, Ford, and Cater tried to fix it. Ronnie and Wall Street just levered up and pushed if forward.
This is bullshite. Reagan’s spending increases were almost all military related to end the Cold War by bankrupting the USSR in an arms race knowing they couldn’t keep up. Also LBJs Great Society created the welfare state that burdens us greatly today financially and ruined the working class and available labor pool.
Our debt to GDP ratio reached 119% right after WW2 then dropped dramatically as the economy boomed. It remained consistently under 65% with fluctuations of low 30s to 64% from 1955 to 2008. It hit 100% in 2014 and is now 123%. The highest ever was 129% in 2020 due to Covid. That’s why you’re seeing inflation now. That number cannot stay above 100% without inflation occurring. It’s on a downward trend, but it’s going to be painful as interest rates need to go higher and we need economic growth and wage growth combined with spending cuts to ease that inflation. But we won’t get the latter 2 with a Democrat administration
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Posted on 1/20/23 at 4:53 pm to deltaland
quote:
This is bullshite.
deltaland we are cool and all but did you have a close family member on Regan's financial staff? I did, and it may not be in the history books but they were there, and we have discussed often in the decades since. While they thought they were helping I have been told they were some of the most distaterous decisions in the rearview mirror.
Carter started alternative energy but Regan killed it, we lost 40 years of research
Regan let in the moral majority who was neither. While I am strong in my faith, it is different when you have a country founded on separation of church and state
We had a dual media because of the FCC and the "equal time" law. We had 50,000 media sources. Now we have around 5 and they care more about clicks than citizens
Government ran our military and police. Regan privatized prisons and stated us down the world of Corporate armies. Can't tell you how many Jarhead friends went through Langley and to the Gulf in the service of the US only to hired by private contractors at the end of a few tours
Regan shut down the long term locked mental health care facilities to save money in the short term but unleashed the massive homeless problem we have now. This transferred qualified care to mental health care by police (and private jails) at 8 x the cost
Pre Regan, the Republican Party had lots of local and regional firms who employed US citizen to make US goods. Regan was the first to flip and allow W#all Street to privatize public companies and outsource outside our borders.
Take politics out of it as both extremes are bad for the actual citizens. We had moderates - and smart ones at that - with Ike but that went down the crapper in the deals Ronnine made to get the votes to get elected.
quote:
we won’t get the latter 2 with a Democrat administration
I made more money under Clinton than I did with any reccent POTUS and I wish Bush Sr had been POTUS in 1980 instead of Ronnie but it is water under the bridge. If this country has a chance they need to stop bickering and hold BOTH D and R to the fire till we change the house to a government committed to the people and not the corporations.
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