Revisionist history again, eh?


Now there is plenty of blame to go around for the current state of our economic affairs and we're talking decades and decades back. Republicans and Democrats alike. And we, yes we, the American people will have to shoulder some of that blame as well.

But if you want to pick one person that is the most culpable for this huge economic mess, well that would be...one Ronald Wilson Reagan.
He did more economic short and long term damage to this country than anyone... and that is still being felt to this day.

"A lapse into fiscal indiscipline on a scale never before experienced in peacetime." --David Stockman (Reagan's budget director)

"The epitaph of the Reagan presidency will be: 'When Ronald Reagan became President, the United States was the largest creditor nation. When he left the presidency, we were the world's largest debtor nation.'" --Lester Thurow, MIT professor of economics

In his presidency, Reagan chose as his economic advisers a group that espoused a radical economic theory called "supply-side." The supply-siders told Reagan that if he gave tax cuts to the top brackets (the wealthiest individuals) the positive effects would "trickle down" to everyone else. Tax cuts, they argued, would produce so much growth in the economy that America could simply outgrow its deficits.
Reagan bought into supply-side theory, which is why in 1981 he predicted that there would be a "drastic reduction in the deficit."

However, Reagan soon discovered that his supply-side advisers were wrong. Tax cuts, instead of reducing the deficit, caused the deficit to balloon.

And we won't even get into the scandals that rocked Reagan's presidency....or the huge, and I mean huge Savings and Loan debacle of the mid 1980's.

Federal deficits would continue unabated until the presidency of Bill Clinton when fiscal responsibility would finally be restored.
President Clinton achieved a balanced budget (and even record surpluses) in large measure by restoring higher taxes on the wealthy.

Now enter one George W. Bush....

"America has a strong economy and a surplus.... Now is the time to reform the tax code and share some of the surplus with the people who pay the bills."
--George W. Bush, nomination acceptance speech, 3 August 2000

After the election of 2000, Bush and a Republican-led Congress reduced income taxes, with the majority of the tax cuts going to America's wealthiest individuals. With the introduction of Bush's tax cuts, the budget surplus immediately disappeared and deficits resumed. By the end of Bush's eight-year term, the national debt stood at $10 trillion -- double its level when Bush assumed office.

Revisionist history again, eh?


Now there is plenty of blame to go around for the current state of our economic affairs and we're talking decades and decades back. Republicans and Democrats alike. And we, yes we, the American people will have to shoulder some of that blame as well.

But if you want to pick one person that is the most culpable for this huge economic mess, well that would be...one Ronald Wilson Reagan.
He did more economic short and long term damage to this country than anyone... and that is still being felt to this day.

"A lapse into fiscal indiscipline on a scale never before experienced in peacetime." --David Stockman (Reagan's budget director)

"The epitaph of the Reagan presidency will be: 'When Ronald Reagan became President, the United States was the largest creditor nation. When he left the presidency, we were the world's largest debtor nation.'" --Lester Thurow, MIT professor of economics

In his presidency, Reagan chose as his economic advisers a group that espoused a radical economic theory called "supply-side." The supply-siders told Reagan that if he gave tax cuts to the top brackets (the wealthiest individuals) the positive effects would "trickle down" to everyone else. Tax cuts, they argued, would produce so much growth in the economy that America could simply outgrow its deficits.
Reagan bought into supply-side theory, which is why in 1981 he predicted that there would be a "drastic reduction in the deficit."

However, Reagan soon discovered that his supply-side advisers were wrong. Tax cuts, instead of reducing the deficit, caused the deficit to balloon.

And we won't even get into the scandals that rocked Reagan's presidency....or the huge, and I mean huge Savings and Loan debacle of the mid 1980's.

Federal deficits would continue unabated until the presidency of Bill Clinton when fiscal responsibility would finally be restored.
President Clinton achieved a balanced budget (and even record surpluses) in large measure by restoring higher taxes on the wealthy.

Now enter one George W. Bush....

"America has a strong economy and a surplus.... Now is the time to reform the tax code and share some of the surplus with the people who pay the bills."
--George W. Bush, nomination acceptance speech, 3 August 2000

After the election of 2000, Bush and a Republican-led Congress reduced income taxes, with the majority of the tax cuts going to America's wealthiest individuals. With the introduction of Bush's tax cuts, the budget surplus immediately disappeared and deficits resumed. By the end of Bush's eight-year term, the national debt stood at $10 trillion -- double its level when Bush assumed office.

Or they could just pay the higher wage and have happier employees, and also pay less taxes by reducing their bottom line a little.

Class warfare is just a term used by the wealthy that don't want to pay the 3% more in taxes they will be paying next year and beyond.

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Celebrating our 10th year !

Welcome to the Official Web Site for the American Beer Drinker's Party. Open up a cold one and hang around a while. We are a rag tag group of loyal American's that have become disillusioned with politics as normal. ( as in RepublicDemocrat Party Inc. ) What we propose and stand for, is a change to a new political system of government, based on the needs of the citizen, as dictated in the Constitution's Preamble. If you don't remember what that says, don't worry, no one in Washington does.

wtf is with these "snip" comments? Your wife talking vasectomy to you or what?