Back in 2011 I marked the 30th anniversary of the day President Reagan was shot with a look at the impact he had on our economy. While he was a great president in many ways, the DATA shows his policies ushered in a “new era” where debt was used to boost the stock market with little trickling down to the rest of the economy. [My old blog site still has last year’s article which includes links to my original post from 2011.]
The difference is staggering. With little in the way of REAL economic growth we are left with a whole lot of money that has to be paid back.
By the way, this isn’t a Republican vs Democrat thing. We’ve had Presidents from both sides that equally ballooned the debt all while seeing economic growth stagnate. What is worrisome to me is how many people are looking back fondly at the Reagan years without truly understanding how much long-term damage was done with the explosion of the national debt. Sooner or later this debt must be paid back and the longer we wait to address it, the sooner we will be facing some rather difficult decisons.