Maybe I should have put quotes around it. He and his curve were often cited as evidence for "trickle-down" economics and he himself went around promoting Reagan's policies on television and other media. These boxes are very small…I use shorthand whenever possible.

It's true that the eighties saw growth and recovery from the 70's but Reagan still added a tremendous amount of debt. The entire world was in recession during the 70's and then there was the oil crisis that started in 73. Your magic turn around credited to Reagan gives him all the credit and then any blame for debt is shifted elsewhere. If you can't look at Saint Rony without the halo, then what is there to talk about.

We couldn't "help the Shah" because Jimmy Carter destroyed the military? Christ…you guys have your own bizarro world history that stretches back as far as you care to think. Who put the Shah in power? Who propped up his government?

And I suppose that when Reagan was elected, the new Iranian leadership was so scared that they released the hostages so as not to enrage the God in charge of the United States. You're clearly older…but definitely not wiser for the effort.

There was nothing "voodoo" about the Kemp-Roth law: Despite bringing top marginal rates down from a high o 92% to as low as 32%, revenues in constant dollars to the treasury quadrupled though the 1980's. Also, 20 Million jobs were created, interest rates came down from 21% to under 8%, and unemployment, which had reached a high of 12% came down to under 7% by 1986. Best of all, the supply of dollars chasing out dollars came to a halt, when inflation, that was clipping along at 14% annually at its worst, came to a screeching halt to under 3% by 1987… And they call this current hiccup the "Worst Recession since the Great Depression". Hah. This is a piker compared to 1979-1981.

The deficit problem under Reagan (which, throughout most of the 1980's remained below 18% of GNP) came from two places:

1) The inability of congress to cut spending. By law (TEFRA 1982), they were required to make $3 in cuts to every $1 in new taxes. The new taxes came, but the cuts never did.

2) Reagan had to rebuild the military after it was gutted under Jimmy Carter. Remember, we had entire fleets of jets, ships and armor that couldn't move for lack of spare parts, and vast swaths of personnel were on Food Stamps, and training without any proper equipment. Meanwhile, the Soviet Union was on the march in Latin America, the Near and Middle East, and Afghanistan, and we couldn't even help good friends like the Shah of Iran (a mistake for which we are still paying 30 years on).

The Soviet Union is now dust, and we had nearly thirty years of prosperity, with constant growth in real earnings with fewer raw materials and greater productivity. Sounds like it worked pretty brilliantly to me.

At least until Stretch Pelosi got a hold of things in 2006.

• Disaster Assistance: $200 million to avert famines and provide life-saving assistance during natural disasters and for internally displaced people around the world, including Somalia, Zimbabwe, Ethiopia, the Middle East and South Asia

• Peacekeeping: $837 million for United Nations peacekeeping operations, including an expanded mission in the Democratic Republic of the Congo and a new mission in Chad and the Central African Republic

• HIV/AIDS: $100 million, $100 million above the request, for the Global Fund to Fight AIDS, Tuberculosis and Malaria to address a funding shortfall for grants in key countries such as Haiti, The Democratic Republic of the Congo, and Afghanistan. (Note: That means Obama’s original request didn’t include any money for AIDs)

• Africa: $151 million, $18 million above the request, for economic and security assistance for Kenya, Somalia, Southern Sudan, and Zimbabwe

• Mexico: $470 million, $404 million above the request, to address growing violence along the United States-Mexico border by supporting the Government of Mexico’s war against organized crime and drug-trafficking

• Georgia: $242 million to fulfill the United States commitment to the people of Georgia

• Global Financial Crisis: $300 million, $148 million below the request, to address the global financial crisis in developing countries

• Nuclear Non-Proliferation: $55 million, $34.5 million below the request, for the National Nuclear Security Administration to safeguard nuclear material in Russia and other sites world-wide

• Department of Justice: $17 million, matching the request, for counter-terrorism activities and to provide training and assistance for the Iraqi criminal justice system

Updates:

Mass media remains silent on this but the International News has now picked up the story

…and then there is Obama’s $108 billion IMF bailout scheme in addition to the Supplemental

Related:

To really add insult to injury, check our previous Creeping Sharia post – Obama asks Congress to allow U.S. funds to terrorist Hamas govt

The Obama administration has asked Congress to let aid to Palestinians continue if Hamas backers are included in a new unity government, observers say. The proposed change in U.S. law would be necessary because Hamas, which controls the Gaza Strip, is designated as a terrorist organization and therefore cannot receive U.S. aid.
http://creepingsharia.wordpress.com/2009/05/13/ob…

Whilst the U.S. is broke. Whilst homeless shelters are filled to capacity and desperate jobless and homeless, NEGLECTED Americans are living in tent cities, billions are gifted to highly favored Muslims.

DRUDGE REPORT
'WE'RE OUT OF MONEY'
May 23 2009

In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: "We are out of money."

SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

OBAMA: Well, we are out of money now. We are operating in deep deficits
http://www.drudgereport.com/flashocs.htm

CREEPINGSHARIA.COM
Obama’s Supplemental Bill Passes, Gives Billions to Enemies?
By creeping

Barack Obama’s 2009 Supplemental Appropriations for Iraq, Afghanistan, Pakistan, and Pandemic Flu was revised and “passed by the full committee”. Not sure what the next step is, but based on the summary, it gives billions of U.S. taxpayer dollars to countries and entities that support sharia law and/or harbor, hide and support those who want to destroy the U.S. and our allies.

Read the summary from David Obey’s office that was quietly released last week with nary a word from any media.

• $3.6 billion, matching the request, to expand and improve capabilities of the Afghan security forces

• $400 million, as requested, to build the counterinsurgency capabilities of the Pakistani security forces

• Afghanistan: $1.52 billion, $86 million above the request

• West Bank and Gaza: $665 million in bilateral economic, humanitarian, and security assistance for the West Bank and Gaza

• Jordan: $250 million, $250 million above the request, including $100 million for economic and $150 million for security assistance

• Egypt: $360 million, $310 million above the request, including $50 million for economic assistance, $50 million for border security, and $260 million for security assistance

• Pakistan: $1.9 billion, $591 million above the request

• Iraq: $968 million, $336 million above the request

• Oversight: $20 million, $13 million above the request, to expand oversight capacity of the State Department, USAID, and the Special Inspector General for Afghanistan to review programs in Afghanistan, Pakistan and Iraq

• Israel: $555 million of the $2.8 billion 2010 request for security assistance, $555 million above the supplemental request. (Note: that means Obama’s original request did not include any money for Israel in 2009)

• Lebanon: $74 million

• International Food Assistance: $500 million, $200 million above the request, for PL 480 international food assistance to alleviate suffering during the global economic crisis

FALL Of The Republic – The Presidency Of Barack H Obama – The Full Movie HQ
http://www.youtube.com/watch?v=F8LPNRI_6T8&fe…

Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
By Roger Runningen and Hans Nichols

May 14 (Bloomberg) — President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”…
http://www.bloomberg.com/apps/news?pid=20601087&a…

Obama admits the terrible financial destruction wrought against Americans. WHY THEN DOES OBAMA NOT IMMEDIATELY REVERSE THIS TRAGEDY?

A major investor states America is going to reach Zimbabwe hyperinflation.
http://economyincrisis.org/articles/show/2942

Billions of dollars urgently needed for America's defense is instead gifted to Islam. Nuclear Iran and nuclear North Korea both state they intend to destroy America. They are not idle threats. The same venomous hate for the U.S. is shared by other nations and Muslim terrorist organizations. The treasonous response of the U.S. government to America's increasing danger, is to drastically reduce our defenses facilitating America's annihilation.

See: Aloha, "Star Wars" By: Washington Times Editorial
Washington Times | Monday, June 29, 2009
http://www.frontpagemag.com/readArticle.aspx?ARTI…

Your racist comment calling the president a "darky" is disgusting. It is character NOT the color of skin that is important!

"voodoo economics" was the laffer curve…the idea that if you brought taxes down on the rich, then the economy would explode, driven by the trickle down of prosperity. I guess you can avoid any uncomfortable facts about these ideas by simply believing that it all worked out brilliantly.

It didn't.

For Vasko, all this will become more reasonable once the darky is out of the whitehouse. When we get a Republican in there, then the deficits will be managable, and there will be plenty of excuses and good reasons to give the rich new tax cuts.

In good times, the Government grows. In bad times, the Government grows. There has never been a federal budget that was less in actual terms than the year before. And its amazing how quickly we accept the latest "normal": In 1993, Bill Clinton's "Stimulus" was a mere $47 billion dollars. And George HW Bush labeled "voodoo economics" Reagan's first budgetary proposal that, he felt, might generate a $40-billion deficit (which, of course, it didn't– it increased revenues as Reagan said it would).

We are over the brink now, folks. We're just waiting for the math to catch up.