First their so called "greatest" Republican president Ronald Reagan wasn't as great as they make him out to be
As President Reagan entered office in 1981 he repeatedly called for a balanced budget amendment to the Constitution, yet never submitted a balanced budget himself.
Many on the right reflexively blame the Democratically controlled Congress for the “big spending” during his administration, even though Republicans controlled the Senate for the first six years of his two terms
Only during the last two years of the Reagan administr- ation was the Congress completely controlled by Demo- crats, and the records show that the growth of the debt slowed during this period.
It appears that the frequently referenced Reagan’s Conservative mythology is contrary to the truth, he was an award winning, record setting liberal spender
The fact is that Reagan was able to push his tax cuts through both Houses of Congress, but he never pushed through any reduced spending programs. His weak leadership in this area makes him directly responsible for the unprecedented rise in borrowing during his time in office, an average of 13.8% per year.
The increase in total debt during Reagan’s two terms was larger than all the debt accumulated by all the presidents before him combined. From 1983 through 1985, with a Republican Senate, the debt was increasing at over 17% per year
. While Mr. Reagan was in office this nation’s debt went from just under 1 trillion dollars to over 2.6 trillion dollars, a 200% increase. T
The sad part about this increase is that it was not to educate our children, or to improve our infrastructure, or to help the poor, or even to finance a war. Reagan’s enormous increase in the national debt was not to pay for any noble cause at all; his primary unapologetic goal was to pad the pockets of the rich
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The huge national debt we have today is a living legacy to his failed Neo-Conservative economic policies. Reagan’s legacy is a heavy financial weight that continues to apply an unrelenting drag on this nation’s economic resources.