If "government revenue" doubles and our national debt triples ($738 billion to $2.1 trillion from Reagans time), do you really think that is good? That is "preposterous". You don't think this was a contributor to inflation?
What you don't seem to grasp is that you can't cut taxes for corporations, continue all the entitlements the US offers, and NOT expect to go into debt. Why do you think we had to borrow so much money? Why do you think our national debt tripled? I thought only liberals thought if you run out of money, you just print more of it.
The irony is you think I don't understand economics yet you refuse to believe the data. You think growing the GDP is the only variable to consider and printing more money is a win-win for everyone. You have more in common with liberals than you think.
What you don't seem to grasp is that you can't cut taxes for corporations, continue all the entitlements the US offers, and NOT expect to go into debt. Why do you think we had to borrow so much money? Why do you think our national debt tripled? I thought only liberals thought if you run out of money, you just print more of it.
The irony is you think I don't understand economics yet you refuse to believe the data. You think growing the GDP is the only variable to consider and printing more money is a win-win for everyone. You have more in common with liberals than you think.
While it is fair to say the debt increased under Reagan, it is incorrect to say it was due to his economic policy. It was largely due to increase in defense spending. This same spending is what bankrupted the USSR and led to the freedom of eastern Europe.
Printing money as an economy expands is necessary. The increase in the money supply is not debt. It reflects the wealth that has accrued. When money is printed without the increase in goods and services as its cause, there will be inflation. You will have more dollars vying for the same number of goods. In other words, the supply has remained the same and demand has been artificially increased. It's Econ 101...Laws of Supply and Demand.
Thus, if you want to reduce debt, it can only be done by reducing spending. It doesn't matter how much revenue you raise, if you spend more than you have, you will increase debt.