How Did Ronald Reagan and George W. Bush Manage to Balance the Budgets and not Add Any Debt?
Question by : How did Ronald Reagan and George W. Bush manage to balance the budgets and not add any debt?
It’s quite obvious that Ronald Reagan and George W. Bush were extremely conservative. They showed how a president can run the country without using the country’s credit card.
If I remember right, Ronnie balanced the budget six of his eight years and gave the country billion-dollar surpluses two other years. And George W. Bush balanced the budget all eight years.
They were extremely conservative.
Why can’t Obama learn from them on how to balance a budget?
Best answer:
Answer by Jack Pepin
they both added to the debt, but not at the pace of the current president.
What do you think? Answer below!
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How can liberals still believe a man who promised to “cut the national deficit in half” ?
Honestly–how stupid can a person be?
Ronnie c ould have balanced the budget if the Democrats were willing to work with him more than they did but the dems didnt
If Reagan’s critics had been willing to work with him to limit domestic spending even further and to control the growth of entitlements, the budget would have been balanced five to ten years sooner and without the massive tax increase imposed in 1993. Today, Members of Congress from across the political spectrum should stand on the evidence and defend the Reagan record.
To the extent that President Bush’s proposals mirror those of Ronald Reagan, his plan should be a welcome strategy to lower the tax burden on Americans and to make the system more responsible. If the advocates of big government in Congress cooperate with President Bush rather than merely continuing to fund obsolete, wasteful, and redundant programs, there is no limit to the prosperity that Americans can generate.
Peter Sperry is the Grover M. Hermann Fellow in Federal Budgetary Affairs in the Thomas A. Roe Institute for Economic Policy Studies at The Heritage Foundation.
http://www.heritage.org/Research/Reports/2001/03/The-Real-Reagan-Economic-Record
Actually debt was raised under both of them. Personally I have an easier time swallowing it under Reagan, due to the complex issue surrounding the Cold War which is where all of his increased spending went. On the other hand GWB spent like crazy on much less credible things. Again, my opinion.
because the american war machine cost 702 billion dollars to run every year. didn’t cost close to that then
WRONG. Plus Bush didn’t include the funding of the Iraq war in his budget. And where did that money come from?
Bush’s deficit in his last year was his highest just over $ 400 Billion.
Obama’s first two years, the deficits have been over a TRILLION in each.
Except that this isn’t true. Both added substantially to the debt.
Oh, wait. That’s probably your point. You were being sarcastic.
Actually they made the debt jump to levels never seen before in American history.
Intent …. determination … resolve
Woah bro.. how did you port in to this plane of existance from your alternate reality budd? So in your alternate universe.. does Reagan and Bush sport cool looking devil goat-tee beards bro?
They incorporated tax credits/breaks that gave people more spending power which drove a strong economy. They didn’t facilitate a tax & spend ideology that will ultimately bankrupt our country and suppress American citizens.
Reagan and GW both doubled the deficit!!!! Unemployment stayed above 10% for the first three years while King Reagan was sitting on the throne!!!!
They didn’t …They both added to the debt.
They plugged tax loopholes. Now the democrats have unplugged them to reward GE and Jeff Immelt so he can leave billions offshore and NOT pay the 5 billion in taxes that’s actually due.