Reagan had balls!
Reagan added fuel to the fire with his "supply side" economics and the deficit tripled under his watch. In reality the deficit doesn't really matter as all industrialized countries have them and there is a direct relationship to the defecit and global economic power plus the federal government doesn't retire so policy can be made in the future to help reduce it. But back to Reagan and thanks the many corporate tax loopholes which reduced their tax burdens putting more on the middle class and forces the Fed to print more money Reagans budget chief David Stockman wrote a tell all book called "The Triumph of Politics" where he stated that he knew nothing of economics and that supply side economics was nothing but a "trojan horse" to reduce the tax rate for the rich. There is a reason that supply side economics is not taught in any university or followed by any other country because it's complete and utter bull shit.
Thanks to deregulation in the 80's under Reagan, record numbers of mergers and acquisitions helped to consolidate power and money into the hands of the few and helped to pave the road to where we are today economically in this country.
Last edited: