Posts

Showing posts from December, 2017

REAGAN & OBAMA, TRUTH VS. PROPAGANDA

National Debt-to- GDP is often misreported, even by the CBO, but normally not as simple-minded as an opinion writer offered a few days ago. On November 8, 2017, a misguided person who has shown himself to be a sycophant for the left-wing propaganda network, and the simplest, often  banal, teachings of the network, published an op-ed saying little except a fallacy that Reagan increased national debt 500% and that Obama prevented a depression. No proof via data and surely not with the 500% nonsense.

Here is my rebuttal. BTW, debt-to-GDP numbers are total debt, even that owed to Social Security, which of course, will never be repaid, and the so-called debt to ourselves at The Fed.

The letter, “Tax and Spend” vs “Borrow and Spend,” in the November 8 Virginia Gazette was not informative. Reagan did not have a 500% debt increase. Moreover, debt as percent of GDP is more definitive. Under Reagan, debt in 1980 of $0.9T, 32% of GDP rose to $2.6T, 49% of GDP, an increase of $1.7T. Fast-forward t…