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MoBuffs

Joined: 10/01/2014 Posts: 1116
Likes: 1002


GHWBush inherited the Reagan deficits created by huge tax cuts and budget..


busting increases in defense spending. He did the right thing for the nation but politically-risky thing for himself by raising taxes (and not cutting entitlements) to pay down the deficit setting the stage for sustained growth in the nineties under Clinton. He was dead right about the long term negative effect of supply side (trickle down) voodoo economics which clearly contributed to nasty recessions created by Reagan economic policies but also by his own son (the Great Recession). Looking ahead, I think history repeats itself and the Trump tax cuts - which heavily favor the wealthy, big political donors and corporations - prove once again supply side economics leads to higher deficits and slower growth and ultimately another nasty recession. Maybe three times will prove to be a charm and Americans will finally wake up! Unfortunately, the number of leaders like George HW Bush - who recognize this reality and are willing to do the right thing for the country and not their donors or party ideologues - are in short supply today. RIP George HW Bush.

(In response to this post by cswilliam)

Posted: 12/01/2018 at 11:00AM



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Current Thread:
 
  
Bush 41 gone -- cswilliam 11/30/2018 11:55PM
  He was a great man -- Stampy 12/01/2018 10:02PM
  Clinton in fact cared abut the deficit. -- cswilliam 12/03/2018 9:21PM
  I spent a couple years working at the -- buffdad 12/01/2018 6:26PM
  Re: Bush 41 gone -- Gateway 12/01/2018 3:17PM
  Great points! 👍 ** -- cswilliam 12/01/2018 4:16PM
  RIP to the man who coined the term Voodoo Economics. ** -- Ralphie Bruber 12/01/2018 09:45AM
  Extremely qualified to be president. ** -- hawg1 12/01/2018 12:02AM

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