Originally
posted by
Dissidenticn:
Reagan had a depression as bad as this? Give me a break.
REAGAN INHERITED AN ECONOMY IN ABSOLUTE DISARRAY, WITH DOUBLE DIGIT INFLATION AND RISING UNEMPLOYMENT RATES. RATHER THAN JUST BLAMING HIS PREDECESSOR, HE DID SOMETHING ABOUT IT.
REAGAN AND A DEMOCRATIC CONGRESS WHICH AT THAT TIME STILL BELIEVED IN ECONOMIC FREEDOM, FIXED THE PROBLEM BY DRASTICALLY LOWERING TAX RATES AND EASING REGULATION. AND YES, AS YOU POINT OUT, BY ALSO ENACTING SANE POLICIES AT THE FEDERAL RESERVE. THE RESULT WAS THAT THE INEVITABLE ECONOMIC CONTRACTION TOOK PLACE DURING HIS FIRST 2+ YEARS IN OFFICE, FOLLOWED BY THE EXPLOSIVE GROWTH WHICH HAPPENS WHEN PEOPLE ARE FINALLY UNSHACKLED.
IN THE TWO OTHER MOST NOTABLE ECONOMIC DISASTERS OF MODERN US HISTORY, (TODAY, AND THE GREAT DEPRESSION) WE TRIED TURNING AWAY FROM FREEDOM, IN FAVOR OF BIG GOVERNMENT WHICH WOULD SOLVE ALL OF OUR PROBLEMS. IN BOTH OF THOSE CASES, THE RESULT WAS A DEEPENING AND LENGTHENING OF OUR ECONOMIC WOES.
IF MASSIVE, IRRESPONSIBLE FEDERAL SPENDING IS THE ANSWER, THEN WHY DOES IT CONSISTENTLY FAIL? WE'VE BEEN RESPENDING THE "STIMULUS" EVERY YEAR FOR FOUR YEARS NOW, AND IT HAS NOT WORKED.
HOW MUCH MORE DO WE NEED TO SPEND? DO WE NEED TO DOUBLE MY GREAT GRANDSON'S SHARE OF THE NATIONAL DEBT FROM $50,000 TO $100,000? AND BY THE WAY, HOW DID CANADA FARE WHEN FISCAL RESPONSIBILITY WAS FINALLY EMBRACED THERE IN THE 90'S? WHAT WAS THE CANADIAN DOLLAR WORTH THEN, AND HOW MUCH IS IT WORTH NOW?
WHEN LIBERTY IS EMBRACED, GOOD THINGS HAPPEN. WHEN STATISM IS EMBRACED, NOTHING HAPPENS.. IF WE'RE LUCKY.
HA!
SAM
"We have tried spending money. We are spending more than we have ever spent before and it does not work....After eight years of this administration we have just as much unemployment as when we started...and an enormous debt to boot!" - Henry Morgenthau Jr, FDR's Treasury Secretary.