There is much talk in the news media today about the country's national debt, deficit spending and about how federal spending is out of control. In order to fully understand our country's severe fiscal and debt problem that exist one must look at the past. We do not have to dwell on the past but we have to have knowledge of what took place to cause the massive deficit spending and the debt it created and who or what administration is responsible for such actions. Without that knowledge the past will be repeated in the future.
In previous commentaries in "politidose" this writer has pointed out how the country's fiscal problems concerning deficit spending and debt started with the election of Ronald Reagan and his administrations policies. Prior to Reagan, the republican party and the democratic party worked together on many issues that benefited the country and its people. They put the work of government first to get things done. That republican party was able to debate the issues and did not use personal attacks as a campaign or debate tactic. That all changed after Reagan was elected. Government became the problem, so called conservatism took on an ideology that became unAmerican, viral, personal in its attacks, elite and outright lies about their opponents positions.
That right wing conservatism produced the likes of Newt Gingrich, Tom Delay, Dick Armey, Mitch McConnell, John Boehner and others inside and out side of congress. It led to a government shutdown during the Clinton Presidency and his impeachment over an affair.
Prior to Reagan's election deficit spending and the national debt was manageable. The national debt that was generated during WWII was paid off. Although deficit spending under the administrations of Kennedy-Johnson, Nixon-Ford and Carter occurred it was manageable and the national debt was less than one trillion dollars at the end of Carter's last fiscal year budget that ended 9/30/81, in fact it was $997 billion. Today it is over $13 trillion. Johnson's administration ran a budget surplus in 1969.
Reagan, Bush 41 and Bush 43 and republicans in general blamed the democrats as big government spenders and creators of debt and have been doing so for the past 30 plus years but the actual record shows other wise. Ironically, the news media and their journalists used those same republican talking points to brainwash the American people. They seemed to figure out most people never bother to check the facts, but that never bothered the news media.
When this six part series is completed the readers will learn how Reagan, Bush 41 and Bush 43 used tax cuts that benefited the wealthy, a lack of enforcement in regulations, deregulation of the Savings and Loans Industry (which cost the taxpayers over $1 billion), record federal deficit spending and debt starved the federal government of needed revenue and transferred wealth from the middle class to the wealthy. Their motivation was and the republican party's aim still is to bankrupt the federal government so Social Security, Medicare, Medicaid and other needed programs will be a thing of the past. That is why the next assualt will be on Social Security. As of this writing the people in the U.S. House is doing just that cutting programs in need under the guise of balancing the federal budget.
When Bush 43 left office, the transfer of wealth from the middle class to the wealthy was complete. The greatest meltdown of the economy, record job losses, record deficit spending and a record increase in the national debt that was so large it makes the future uncertain. Two yearsafter Bush 43 has left office the country and its people are still feeling the effects of this transfer of wealth at the expense of the middle class. The stock market is booming, the wealthy are doing well and the middle class is being crushed. The past is still the key to the country's future and knowing and understanding the facts can change the future for the best.
Next up: Part II The Reagan Presidency.
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