Time For Change

Another Republican administration will come to an end in two months with the economy in shambles, massive job losses, layoffs, rising unemployment, massive deficit spending, and debt.  If that sounds all too familiar, it's because that is a description of the republican record and you read it first here on politidose in several articles going back to early this year.

 

Of the last three Republican presidents, Ronald Reagan did the best with the economy, but it too went into decline 18 months before he left office.  He then turned the mess over to Bush 41 who never got hold of the economy and ended up losing his reelection bid to Bill Clinton.

 

All three Republican presidents repeated the same mistake.  They never had a broad base economic policy to create a sustained economy or job creation and instead believed in trickle down economics.  Neither Reagan, Bush 41, or Bush 43 balanced the budget in the 20 years they served, and they are responsible for the majority of the massive national debt which is now in excess of $10 trillion.  It was less than one trillion dollars when Reagan took office.

 

The present Mr. Bush's failed policies are responsible for the massive melt down of the economy and the hardships facing our country.  Republican administrations have repeated and will continue to repeat (if given the chance) the trickle down policy that favors the wealthy over the middle class and has resulted in the greatest transfer of wealth in history.  No economy can be sustained if the middle class does not have the means and resources to fuel the economy.  That is the shameful republican legacy.  It was a Democratic administration led by President Clinton which presided over the greatest economy and job creation in the last 50 years and it was the Clinton administration that advanced the middle class.

 

Those three republican presidents had 20 years to achieve a sustained economy and job creation and help the middle class but they failed the test.  It is time for a change.  Vote Democratic on November 4. 

Nightmare On Pennsylvania Avenue

President Bush's administration has proved once again why Republicans should not be in charge of our nations safety or our economic/fiscal well being.  What has happened to our country and its people is a direct result of Republican ideology and arrogance.

 

After being sworn in as our 43rd President, Mr. Bush set a course to bring kingship to Washington where he would rule as such.  It started prior to taking the oath acting in tandem with the warped mind of Dick Cheney.  From that day forward, there would be no open government for the nation and its people.  Everything would be done in "hush-hush" and secret --- no checks and balances, no oversight, no regulation and above all, never answer to Congress or any other entity.  

 

They met secretly with representatives of the energy industry and made decisions that affect Americans and kept the details of those discussions and decisions secret.  The people would later find out the details in the form or $130/barrel oil and $4.00/gallon gasoline.

 

They started a war and occupation with Iraq over WMD that did not exist and payed only lip service to the people responsible for the tragic events of 9-11.  

They adopt Reagan's ideology of trickle down economics with tax cuts that benefit the wealthy instead of having a true economic and fiscal policy for a sustained economy, job creation, and balanced budgets.  They have since joined other Republican administrations in having one of the worst job creation records in the last 60 years and having ended their last year in office with job losses every month, stock market and financial market meltdowns, and a recession in many sectors of the economy.

 

They walked away from the balanced budgets and surpluses of the previous administration and committed the nation to record deficits and record debt.  With Bush having a 27% approval rating, we are a nation and a people without a true leader. 

Good news, however: The nightmare is almost over.

This Just About Says It All

credit to Steve Greenberg

The Republican Cycle Of Record Federal Deficits And Debt

The champions of deficit spending and the creation of debt are indeed the so called conservative Republican presidents.  On July 28, Mr. Bush's White House announced that the federal budget deficit for fiscal year ending Sept. 30, 2009, Mr. Bush's final budget, will be another whopping record of $482 billion --- by far the largest ever.  It was originally projected to be $400 billion. 

 

The White House also announced that this year's budget deficit for fiscal year ending Sept. 30, 2008 will be $389 billion.  It was projected early on to be $260 billion.  The White House and Mr. Bush are now trying to blame everything and everyone under the sun for this deficit explosion, but now it won't wash because of his record of reckless fiscal policies.  Lets look at Mr. Bush's irresponsible deficit spending and debt:

 

If the latest two projections on the deficit hold up Mr. Bush's total deficit spending for 8 years in office will be over $2.5 trillion and he will have added over $4 trillion to the national debt.  Ronald Reagan's total deficit spending for 8 years was $1.4 trillion and he added $1.9 trillion to the national debt.  Mr. Bush 41 (George Herbert Walker Bush) deficit spending for his 4 years in office was $1.03 trillion and he added $1.5 trillion to the national debt. 

 

I will let the readers add those numbers up so they can understand the reckless behavior of those so called conservative Presidents.  They will have served a total of 20 years when Bush 43 leaves office and did not balance one federal budget in those 20 years.  The reckless fiscal behavior of those 3 Presidents is the reason the economy was never sustained on their watch and why job creation was uneven and suffered job losses.  They never had a true economic policy.  They had a tax policy of trickle down economics which never worked to sustain the economy. 

 

Bill Clinton reversed Reagan-Bush 41 reckless behavior of 12 straight years of deficit spending and debt by reducing the deficit every year his first 4 years in office and then created a balance budget with surpluses each of his last 4 years.  His administration had a $62.8 billion surplus for his 8 years in office and paid down over $400 billion on the national debt.  Mr. Clinton had an economic plan that produced the greatest economy and created a record number of over 22.7 million new jobs.  He also left Mr. Bush a projected surplus of $5.6 trillion which Mr. Bush squandered. 

 

The Republican Party has no record of being fiscal conservative despite their lies.  The record shows their real intention, to bankrupt the country to deprive the government of funds for Social Security, Medicare, and other programs that have been a benefit to the American people.  Their tragic record speaks for itself.  And the present Mr. Bush is by far the most tragic.

The Roadblock To Job Creation And A Sustained Economy --- Conservatives

The economy lost 62,000 jobs in June, the sixth straight month of job losses that total 438,000 since the first of the year.  As of this writing, we are in the midst of a second recession on Mr. Bush's watch and he has no clue what to do about it.  Worse yet, the labor department says the country can expect the job losses to continue. 

 

Conservative Republicans are masters of deceit when it comes to the economy and job creation.  Now we are in the final months of the general election and John McCain has no plans to change the status quo.  In fact, he has no credibility on economic matters.  His voting record in Congress rubber stamped Bush's economic decisions even the massive debt this President will leave our children and grand children. 

 

The economy lost jobs in the first four years of Bush's term.  The last time that happened was under the administration of Herbert Hoover, another Republican.  The Clinton Administration created approximately 4.1 million more jobs in eight years than Reagan-Bush 41 created in 12 years.  When Bush 43 leaves office his economic and job creation performance will be, to say the least, sorry.  And when his record budget deficits and debt is added to that he will have earned the title of the worst President in our lifetime.

 

The other legacy that Reagan, Bush 41, and Bush 43 has scarred our country and people with is the largest transfer of wealth from the middle class to the most wealthiest Americans.  Our people and country will continue to suffer because of that and it will take many years to reverse the trend.  Our economy will not sustain itself until this transfer of wealth flows back to the middle class.

 

Corporate America controls every major consumer need because of their buying power in Washington.  They enjoy corporate welfare, tax breaks, tax loopholes and other goodies our elected officials are willing to lavish them with.  Try this on for size: one percent of the people own half of the stocks in America. 

 

Conservative Republican Presidents have pursued over the years policies that favor the very wealthy at the expense of the middle class (The heart of any Democracy) and put our people in debt because of their ideology with this transfer of wealth.  Over 7 trillion dollars of debt created by Reagan-Bush and Bush 43, along with a few more trillion dollars of interest payments on their debt could have gone a long way to pay and provide for those needs that really matter and make a difference for our people and the country.  But they choose to destroy the middle class in favor of an ideology of wealth for those who need it the least.

 

If any one thinks a Conservative Republican will balance the budget, create a sustained economy and job creation, have the middle class share in that part of the wealth they deserve because of their working sacrifice and move our country forward, they are sadly mistaken.  Conservative Republican Presidents do not have any record of doing that in the last 30 years.

 

The November election is very critical for America, its economy, and the middle class.  The United States and its people can not afford another Republican President. 

McCain's Latest Economic Package

Senator McCain announced his Economic Package at Carnegie Mellon University in Pittsburgh a few weeks ago.  It follows the same failed economic packages of Reagan-Bush and Bush 43 ---trickle down economics that favor the wealthy and corporate America and that do nothing to grow and sustain the economy and the middle class that is once again forgotten.  Here is his package:

 

Reduce corporate tax rate from 35% to 25% and offer other corporate write-offs --- a double whammy, in other words, for corporate America and the wealthy.  The Reagan-Bush and Bush 43 administration have already given corporate America and the most wealthy the largest tax breaks in the past 28 years, and now McCain is following their reckless agenda.  Will the American people let themselves be fooled for a fourth time?  This tax cut and other write-offs will cost the treasury $100 Billion a year.  And to think McCain said there will be no more corporate welfare during his administration.

 

He said he would also repeal the alternate minimum tax which affects 93% of those making between $200,000.00 and $1 million per year.  This will cost the treasury $1.6 Trillion over 10 years.  McCain would like to suspend the gasoline tax for the summer months that would cost the treasury $9 Billion, without any real way to make up the lost revenue.  In other words, don't address the problem of high gasoline prices and Big Oil, just suspend the gasoline tax for 3 months, deprive the government of that revenue and then go back to $111/barrel oil and $3.40/gallon gasoline.  In short: Ignore the real problem.

 

As one can see, the middle class is once again on the short end of any tax relief.  More over, the money lost by the treasury because of McCain's lack of a true economic policy will just keep adding more to the deficit and debt the Republicans are experts at creating.  At the same time, it does absolutely nothing to grow and sustain the economy and the loss of revenue reduces the governments ability to provide the needed services to the people and the country.  If the American people think the economy is bad now and McCain is the next President, the Republicans will accomplish what Russia tried to do years ago, but failed, --- bury us.

 

So called Republican conservatives have no shame being in the pocket of corporate America and creating debt for the country and its people.  We are in an economy now that is out of control and have a President who has failed to act.  If McCain is the next President, the middle class will be no more, mark my words.  That should scare the hell out of everyone. 

The United States: A Nation Without A Leader

I wrote a post some time ago pointing out that President Bush still had the power of veto because the Republicans in Congress still have enough votes to rubber stamp his wishes, but that his Presidency has become irrelevant.  That is true more so today than ever before and the United States is still a nation without a leader.

 

Oil and gas prices have been out of control for over a year and have reached levels never before seen in America.  Bush is AWOL on the subject and has no leadership role taking any action.  President Carter faced a similar situation and problem when he was President, although not as serious as it is now.  He faced the problem and took serious action by reducing the speed limit to 55 mph on the Interstate system, by regulating the thermostat in all federal buildings, tax breaks for energy saving devises, and creating the "Strategic Petroleum Reserves."  Prices not only came down, but energy usage was reduced and the oil and gas industries' supplies in their inventory were increased.  When Reagan took office, he changed all of Carter's policies.  If President Carters policies were continued today, we would be in much better shape with more reasonable prices at the pump. 

 

The economy shows Bush's irrelevance more and more every day.  He is so out of touch and ignorant on questions asked of him concerning the economy that it would be comical were it not so sad.  Our nation and its people are at a stage now with so many serious problems and are facing them without a leader.  And this is the guy who thinks he does everything better than past Presidents.  I hope the people keep that in mind for the November election when the opportunity is presented to elect a President who will lead.  The Democrats and the people have to bring back the saying, "Where was George?" 

Republican Administrations = Fiscal Disasters

The economic numbers for the first quarter are in, and they are not good.  And even worse, it comes at a time when the Federal Reserve Chairman, Ben Bernanke, says that he does not rule out a recession.  Let's take a look at what is behind all of this:

 

The economy lost 80,000 jobs in March; 76,000 jobs in February, and 76,000 jobs in January for a total of 232,000 jobs lost in the first quarter of 2008.  The government reported that the March job loss was worse because the actual number of jobs lost in the private sector was 98,000 and only hiring by the government brought the job loss to 80,000.  The unemployment rate increased from 4.8% to 5.1%, the highest  in two and half years---at the end of March there were 7.8 million people unemployed.  The Federal Reserve also reported first quarter GDP will more than likely show none or very little growth.

 

It was reported in my three part series, "The Economy: Which Party Performs The Best", that the problem with Republican administrations and the economy is twofold.  They have a tax cutting plan ,called trickle down economics, but no real, broad based economic policy.  They have a reckless fiscal policy of deficit spending and debt creation, rather than what this country needs for a stable economy--- a sound fiscal policy, based on balancing the federal budget.

 

The economy lost jobs in the first term of George W. Bush because a lack of a economic and fiscal policy.  Job creation under his administration, when it comes to an end, will be one of the weakest since Hoover.  One recession has already taken place on his watch and another one is brewing.  Yet with all the bad news, the President does nothing.   

 

It should be noted the unemployment rate on Reagan, Bush 41 and Bush 43's watch never went down at a steady pace.  On each of their watches it increased over what it was when they took office before it came back down: Reagan from 7.5% to 10.8% before it started to come down;  Bush 41 from 5.4% to 7.8% before it started to come down.

 

When President Clinton took office unemployment was 7.3% and it never went over that.  In fact, the unemployment rate went down on a steady basis every year that he was in office and was at 4.2% when he left.  The Clinton administration was also steady in creating jobs upward and in record numbers while Reagan, Bush 41, and now Bush 43 were/are inconsistent.  That was also covered in my three part series mentioned above.  Those three neocon presidents did not even come close in creating a sound economic and fiscal policy.  Clinton had a real economic and fiscal policy that produced the greatest economy, created jobs, low unemployment, advancement for the poor, middle class and all through the economic ladder and real increase in wages.  Not to mention, he also produced a balance budget that returned surpluses, paid down debt, and left Bush a $5.6 trillion surplus, which he of course blew.  By the way, crime and unemployment hit its lowest level in 40 years on Clinton's watch.  Yea, you read right, it happened on a Democrat's watch.

 

The Clinton haters are out now in full mode, especially journalists who are infatuated with Obama, since his wife is seeking the Democratic nomination.  They are still reporting opinions and false hoods as fact, just as they did during the impeachment of the President by the Republican Congress.  The voting public would also do well to remember that the U.S. Senate found Clinton not guilty of the impeachment charges, and a five year investigation by the government concerning Whitewater found nothing.  The only thing the President was guilty of was lying to the public about an affair.  The same Clinton haters are trying to do the same thing to Senator Clinton---they just can't stand the fact the country and its people did so well on President Clinton's watch and they don't want to see Sen. Clinton have that same success. 

Republican Presidents = Disaster for Taxpayers

Ronald Reagan and George W. Bush lacked/lack a real economic and fiscal policy and brought/bring financial disaster to our country and its people.  Under Reagan, the Savings and Loan Industry collapsed and the federal government had to bail them out to the tune of $100 billion, which was, of course, paid for by the taxpayers.

 

Now under George W. Bush, the mortgage and financial industry has collapsed.  The housing market has been devastated and foreclosure is at an all time high.  And now one of the largest firms on Wall Street, Bear Stearns, has been taken over by J.P. Morgan that was engineered by the federal government with a $30 billion loan.  The concern, we are told, was a possible meltdown in the financial market and a run on Bear Stearns trading commitments. 

 

Make no mistake about these two huge problems under Reagan and Bush.  They are the direct result of the conservative ideology that corporate America will police itself and that no oversight is needed.  It's also the result of corporate America being in bed with conservative Republicans.  They know if a problem arises, these so called conservatives will bail them out with taxpayers' money.

 

All of this and a economy that is going south, declining jobs, and the price of oil continuing to rise at record levels.  The stock market is going south and guess who has the money to buy up stocks when they go down. Yea, you are right, the people who control wealth.

 

In my three part series, The U.S. Economy: Which Party Performs Best, it was pointed out how Reagan, Bush 41, and Bush 43 had/have no economic policy and how their reckless deficit spending has put our country at risk. These three Presidents have put the country and its people in so much debt, we may not be able to recover.  The U.S. is now in a financial meltdown.  Greed and Conservatism go hand and hand.

 

George W. Bush spoke before the New York Economic Club last week concerning the state of the economy.  He showed his ignorance concerning the economy and what is taking place in America today.  This nation and its people must elect a Democratic President in November.  If our fiscal house is not put in order soon, we may witness something more than a depression.  That will not be pretty. 

 

Don't expect any conservative Republican to reverse the policies of these three presidents.  Has anyone heard any Republican talk about the massive debt? They are silent.  The only candidate I have heard talk about going back to fiscal responsibility is Senator Clinton.  Journalists are so full of hype and caught up in the primaries, they fail to talk about the real issues that face and affect the taxpayers.  Lou Dobbs is supposed to be an economic genius, but when is the last time any one heard him talk about deficit spending and debt created by the last three republican presidents?  So much for the people who are supposed to be looking out for America. The American people need to start looking out for themselves by electing leaders who know how to solve this mess.  

Click here for Part I of The U.S. Economy: Which Parties Performs Best

Click here for Part II of The U.S. Economy: Which Parties Performs Best

Click here for Part III of The U.S. Economy: Which Parties Performs Best

The U.S. Economy: Which Party Performs Best? (Recap and Conclusions)

Most reasonable people would agree that 20 years is enough time to put one's fiscal house in order and develop a real broad based economic plan that puts the country on a solid economic foundation.  Yet Ronald Reagan, Bush 41, and Bush 43 were given that amount of time but failed this country and its people big time.

 

The Republicans are caught in a time warp.  They still talk of Reagan reducing spending when in fact he accomplished the opposite.  John McCain talks about reducing spending on the campaign trail, yet he was part of the Republicans who controlled Congress and rubber stamped Bush's massive increase in deficit spending and debt year after year.  These people out right lie.  Lets look at what this massive spending and debt has cost our country and taxpayers.

 

The National Debt from when Reagan took office to February 22, 2008 increased $8.956 trillion.  That includes the $660 billion projected additional debt that Bush will produce in fiscal years '08 and '09.  84.5% ($7.564 trillion) of this debt was the result of deficit spending by Reagan and both Bushes.  

 

Interest that the federal government has had to pay on the debt since Reagan took office through fiscal 2007 was $7.261 trillion.  That is wasted taxpayers money that could have been used for needed programs and to extend social security, medicare, provide universal healthcare, etc. If those three Republican presidents would have balanced the budget and created surpluses as Bill Clinton did, this country would be in much better shape today.  Clinton did it after the 12 year fiscal disaster of Reagan-Bush and paid down $453 billion of debt. 

 

Had Bush 43 followed Clinton's fiscal discipline, the national debt would have been paid off.  But his deficit spending not only blew the $5.6 trillion projected surplus, he denied the country and its people an avenue to increase the quality of life, and fund needed programs.  The following is just one example how debt has eaten away at our ability to pay for these programs. 

 

Medicare cost the federal government $437 billion in 2007.  General revenues financed $179 billion or 41%.  Dedicated taxes and premiums paid the balance, $258 billion.  The Secretary of Health and Human Services said that by the year 2013, general revenue will go up to 45.1%.  Since this is the most recent medicare cost lets use this as a measure of what the federal government could do if it was not for the massive debt Regan, Bush 41, and Bush 43 added to.  

 

Interest paid on the national debt for fiscal 2007 was $429.9 billion.  Interest paid for fiscal 2006 was $405.8 billion.  Yea, you read right.  That is almost a total of one trillion dollars of interest paid in only a two year period---wasted money.  That $835.7 billion of interest paid that could have extended medicare 4-1/2 years.  Then when you consider all of the money paid in interest that was required by this massive debt, it comes to $7.261 trillion since Reagan took office.  Interest paid on the national debt during president Carter's 4 years was a total of $219 billion.  That should knock your socks off.  Thats $7.261 trillion in interest paid on the national debt because of deficit spending that did not go to educate our children or to pay for other needed programs.

 

Interest paid to finance our debt is the fastest growing part of the federal budget and much of that interest is paid to foreign debt holders and is taken out of the United States.  (source:  U.S. Department of the Treasury, Bureau of Public Debt.)  Those Republican presidents liked to talk about the cost of social security and medicare (which are solvent), but have you ever heard them talk about the interest paid on the debt that they created because of their reckless fiscal policies?

 

It is past time for the American people to wake up to the Republican's scheme.  The federal government has the ability to pay for needed programs and services that are required if only our presidents were fiscally responsible and balanced the budgets.  No more excuses.  And if there is really any true conservatives out there, get your head out of the sand before it is too late.  A presidential election will be held in 9 months.  If the people blow this one, our country may never recover. 

 

Footnote:  It is hard to believe that not one question has been asked about this massive debt to any of the presidential candidates in any of the debates. 

 

Final Conclusion: President Clinton's fiscal and economic policies put America and its people first.  Conservative Republican Presidents, Reagan, Bush 41, and Bush 43, put America and its people last with their warped ideology.

The U.S. Economy: Which Party Performs Best? (Part II of III: The Reagan and Bush Administrations)

  Ronald Reagan, 1981-1989

 

Ronald Reagan ran for President calling for a balance budget, fiscal responsibility, smaller government, and reduced federal spending.  He failed to initiate any of those policies and accomplished none of those goals, even though the Republicans controlled the U.S. Senate his first six years in office.

 

When Reagan left office after 8 years, he was not only the biggest spender of all Presidents before him, but he was also the record holder of deficit spending, by far.  Reagan’s pronouncements about being a fiscal conservative turned out to be nothing more than an extension of his acting profession.

 

The facts show just how reckless Reagan was with the American people's money.  He never had the courage nor character to submit one balanced budget to Congress in the 8 years he served.  No President can balance the budget and cut unnecessary spending if he does not show leadership on the subject in dealing with Congress.  The range of the deficits and increase in the national debt on Reagan’s watch was unprecedented at the time and reversed the history of all previous Presidents.

 

On Reagan’s watch the U.S. moved from being the world's largest international creditor, to the worlds largest debtor nation.  Deregulation of the Savings and Loan industry caused their collapse, resulting in a federal bail out that cost the taxpayers $100 billion Dollars.  Increase in the national debt during Reagan’s two terms was also greater than all the Presidents before him. 

 

 

 George H.W. Bush, 1989-1993

 

President George Bush was Reagan’s Vice President for 8 years.  He ran against Reagan in the primaries of 1980 and called Reagan’s economic pronouncements "voodoo economics".  Reagan’s deed in office proved Bush was right.  However, like Reagan, Bush never developed a true economic policy.  His famous pledge of “read my lips, no new taxes” was to satisfy his base.  Many believe breaking that pledge cost him reelection.  However unemployment went up during his term and he failed to address the massive deficits of Reagan, continued to add to the national debt with deficit spending and failed to balance the budget during his term in office.  His four years of deficit spending was in fact greater than any 4 year term of Reagan.

 

Job creation during Bush’s term was the weakest since Eisenhower’s last term in office 1957-1961.  Neither Reagan nor Bush had a real economic policy.  They had a tax policy for the most wealthy that depended on the theory of “trickle down economics".  Voodoo economics took center stage in both administrations.  Bush, to his credit, weakly tried to change that late in his administration, but the devastating scope of fiscal irresponsibility for 12 straight years could not save his Presidency.

 

The below numbers will show just how reckless  Reagan-Bush were with tax payers money.  Any notion of either one being fiscal conservatives is pure myth.  And if anyone thinks that the massive deficits and national debt they created were necessary to get our economy in good shape, they are living a fairytale.  President Clinton’s economic policies and results proved that.

 

                                                   

Budget Deficit or Surplus            

 

         Reagan                                                                                                    

 

1982 -----$128 Billion Deficit                                                               

1983 -----207.8 Billion Deficit                                                          

1984 -----185.4 Billion Deficit                                                          

1985 ------212.3 Billion Deficit                                                             

1986 ------221.2 Billion Deficit

1987-------149.7 Billion Deficit                                                        

1988-------155.2 Billion Deficit  

1989 -------152.5 Billion Deficit

______________________                

Totals---$ 1.412 Trillion Deficit                                                                     

 

Bush

1990---- $221 Billion Deficit

1991---- 269.2 Billion Deficit

1992---- 290.3 Billion Deficit

1993----- 255.1 Billion Deficit

______________________

Totals----$1.035 Trillion Deficit

National Debt

 

When Reagan Left Office -------$2,857,430 Trillion                  

When Reagan Took Office ----------997,855 Billion                    

_____________________________________            

Total increase of debt: $1,859,575 Trillion or 186%      

                                                                                                 

 

When Bush left Office--------- $4,411,488 Trillion

When Bush took Office ---------2,857,430 Trillion

____________________________________

Total Increase of debt: $1,554,058 Trillion or 54%

Spending vs. Previous Administration

 

Reagan  1st. Term -------$3,352.4 Trillion                                     

Carter     1st. Term--------2,232.8 Trillion                                   

______________________________                                

Increase of  $1,119.6 Trillion or 50%                          

 

Reagan 2nd. Term------$4,202.8 Trillion

Reagan 1st. Term-------3,352.4 Trillion

______________________________                       

Increase of  $849.4 Billion or 25%                                                                                                                               

 

Bush 1st. Term------$5,368.5 Trillion 

Reagan Last term ----4,202.8 Trillion  

___________________________

Increase of  $1,162.7 Trillion or 27.6%

Public Debt

 

When Reagan Left Office          1989    $2,190.7 Trillion         

When Reagan Took Office        1981            789.4 Billion           

Increase of 177% -----------------------$1,401.3 Trillion                                       

 

When Bush Left Office             1993    $3,248.4 Trillion

When Bush Took Office           1989      2,190.7 Trillion

Increase of 48%------------------------$1057.7 Billion

 

Update: original data was inaccurate, newly posted information show correct totals

Public Debt as Percentage of GDP

 

When Reagan Left  Office                   40.6%

When Bush Left Office                         49.4%

 

 

 Job Creation

 

Reagan 1st Term                               5,322,000 Million

Reagan 2nd Term                           10,780,000 Million

Total Jobs Created                        16,102,000 Million

Bush Term                                           2,592,000 Million

 

Note:  Last 3 digits shown as zero’s.

 

 

 

Unemployment

 

The unemployment rate when Reagan took office in January 1981 was 7.5%  at months end.  When Reagan left office in 1989, it stood at 5.4%, a decrease of 2.1% while he was in office.  The unemployment rate went up to 10.8% on his watch.

 

The unemployment rate when Bush took office in January 1993 was 5.4%.  When he left office 4 years later, it was 7.3%, an increase of 1.9%.  The unemployment rate went up to 7.8% during Bush’s term in office.

 

After looking at the numbers, one can tell both Reagan and Bush had no real economic policy to deal with the economy.  During their 12 straight years at the helm, the yearly deficits fluctuated back and forth with no real steady movement downward.  The same goes with the national debt.  When Part III is examined, you will find all of those negative items moved in a positive downward position consistently on President Clinton’s watch.  Stay tuned.  

Information shown taken from Congressional Budget Office, U.S. Department of Labor, Bureau of Labor Statistics, Whitehouse.gov and Treasury Department.

Conservatism: The Ugly and Unamerican Ideology

In the four years I spent on active duty in the Marine Corps, I was not asked one time if I was a liberal or conservative.  Yet we all shared the same thing and looked after and took care of each other.  We all served our country at a very young age and I am proud to be a Korean War Veteran.  We were "always faithful" to our motto and each other.  Being an American and a Marine was the only ideology. 

 

I worked for over 45 years in the business world and not once was my job or life affected by my political beliefs.  I can say the same thing about my life outside military service and work place.  But now, politicians have changed all of that, why?  The simple answer is political greed, and make no mistake, it started with the neoconservative administration of Ronald Reagan.  Ever since then Republican candidates have tried to paint themselves as the good guys and everyone else, the bad guys, especially liberals.  They have tried to change the meaning of patriotism when others do not share their ideology.  They have even stooped to the low of accusing people who do not always wear an american flag on their coat as unpatriotic. 

 

How did the people of this great country get suckered into this conservative ideology that is meant to divide us?  If the american people were impressed with facts, they would turn off this ideology tomorrow.  But people seem to go with the flow.  If some one in my Marine outfit or in my working career took the attitude that his ideology was better than any one else's, he would have not lasted long at all. 

 

Too many Americans have forgotten the good life we have lived as Americans and have bought into ideology as a substitute for being an American.  All one has to do is listen to what the Republican candidates running for President are saying.  "No one else is fit to serve in the office," that is the thrust of their speeches.  They can't even bring themselves to embrace the ideals that America has stood for since the beginning.  They even try to out do each other as to who is the most conservative.  That really gets to be a laugh.  The cure is very simple. Get a life and be an American first.  Come down off your high perch, you may like it here on earth, and you just might remember the days when ideology took a back seat in the real world.  Those were the days when much was accomplished.

 

If conservative politicians and candidates really want to do something for their country and fellow man, prove it by your deeds, tap into the real spirit of America and let go of your phony "holier than thou" attitude.  You will find it is better to have an American ideology than a phony conservative ideology.

 

Presidents Eisenhower, Nixon, and Ford described themselves as conservatives, but never did they themselves proclaim a "holier than thou" attitude in their political campaigns.  They spoke to the issues facing the country.  I just wish the candidates these days would speak to the issues, but that seems unlikely.