True, living standards have never been higher. Personal debt has never been higher. Coincidence? I don’t think so. Reagan taught us all too well to borrow and spend and don’t worry about the deficits — national or personal. You can have your cake and eat it to. For a while...
Reagan taught us all too well to borrow and spend and ...
Utter nonsense. Complete rewriting of history by a believing lefty.
The congress under Reagan spent two dollars for every one dollar in new revenue that his tax cuts brought in. He fought them each year but they forced them through.
Not all debt is created equal. Meaning that something like a Million Dollar debt for some people would be a major burden but for others would be a minor inconvenience.
Our National Debt can be looked at in a similar way. Our debt today compared to our Gross National Product (Gross Domestic Product) and our true National wealth is nothing when compared to our debt during World War II.
To win that war we had to make big sacrifices in life, time, and property. We had to do the same to win the Cold War (WWIII) and we will have to do the same to win the present war. Regardless of what you call it, WWIV or the War on Terror or Islamofascism we have to win it and more public debt may be one price or sacrifice we have to pay.