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URL:  http://boards.fool.com/mc-its-absolutely-absurd-democrats-are-30407022.aspx

Subject:  Re: Facts are stubborn things Date:  11/30/2012  1:04 PM
Author:  MadCapitalist Number:  1841177 of 1976581

MC It's absolutely absurd. Democrats are horrifically irresponsible.

The only place I used the word "Republican" was when I gave them credit for stemming red ink during the Clinton years. Other than that I mentioned some historical events that led to large increases in debt.

Reaganomics, Bush tax cuts, and two unfunded wars.

Do you disagree with this analysis?

Please reference the chart and give me your interpretation.

http://static.seekingalpha.com/uploads/2010/12/14/saupload_a...

Peter


Give me a break. Reagan was a Republican. Bush was a Republican. The two wars were started under Bush, a Republican. Nowhere did you say a word about the large Democratic contribution to our financial mess, but you were absolutely clear about it being a "fact" that the problem was Republican policies.

And yes, I disagree with this analysis. Reaganomics is ambiguous, but I explained how tax revenues were higher now in real per capita terms than before the Reagan and Bush tax cuts. And I explained that the increase in nondefense spending was 3 times the increase in defense spending.

Plus, we used to balance the budget in the 1950s and 1960s when defense spending was 2-3 times what we are currently spending as a percentage of GDP. The difference is that non-defense spending (particularly payments to individuals such as entitlements) has continued to grow as a percentage of GDP.

Face it. It is nondefense spending that is driving our fiscal problems, not "tax cuts" or wars.
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