talk.politics.misc

Bill Bonde ( 'Hi ho' ) wrote:
>
> Mitchell Holman wrote:
>> "Bill Bonde ( 'Hi ho' )" wrote in
>> news: @ :
>>
>>>
>>> Mitchell Holman wrote:
>>>> George Grapman wrote in
>>>> news: $ @ :
>>>>> So tell us why Republicans did nothing during those 4 years. Then
>>>>> tell us why Reagan never even submitted a balanced budget.
>>>>>
>>>> "When the 1981 tax cut was proposed, it was part of an
>>>> economic program that the Reagan Administration claimed that
>>>> would lead to a budget balanced by 1984."
>>>>
>>> An economic program that didn't expect interest rates over 20%.
>>>
>> So what happened to the Balanced Budgets Reagan said
>> his tax cuts would produce?
>>
> I just told you that the 20% interest rates tanked the economy. You do
> know that a recession reduces government tax receipts and increases
> costs for social programmes like unemployment insurance, don't you?
>
>
>
>
And Reagan was not aware of those facts when he promised to end deficits?