http://www.econlib.org/library/Enc/Reaganomics.html
Trust this famous economist.
2007-01-01 19:25:43 · 11 answers · asked by republican 2 in Politics & Government ➔ Other - Politics & Government
*gasp* It didn't! Do a little background search on the guy who wrote it. William A. Niskanen is chairman of the Cato Institute, a position he has held since 1985 following service on President Reagan's Council of Economic Advisers. Of course he's going to say it worked, he was employed there, that was his boss, and more importanly, his own brainchild.
All of Clinton's advisors said their own plan worked, as did Reagan's, and all the presidents men prior to that.
2007-01-01 19:30:03 · answer #1 · answered by sundayhighway 2 · 5⤊ 1⤋
I should trust an economist who designed economic policies to tell me whether or not those polices worked? Would you also tell me that I should trust Donald Rumsfeld when he declares the Iraq War a success? Ok. Fine, I'll trust him when he says:
"Reagan left three major adverse legacies at the end of his second term.
First, the privately held federal debt increased from 22.3 percent of GDP to 38.1 percent and, despite the record peacetime expansion, the federal deficit in Reagan's last budget was still 2.9 percent of GDP.
Second, the failure to address the savings and loan problem early led to an additional debt of about $125 billion.
Third, the administration added more trade barriers than any administration since Hoover. The share of U.S. imports subject to some form of trade restraint increased from 12 percent in 1980 to 23 percent in 1988."
Sounds like a resounding success to me!
2007-01-01 19:43:00 · answer #2 · answered by opendna 2 · 3⤊ 0⤋
NO. most American workers salaries have not stayed up with inflation since this bull. the trickle down theory was the biggest crock ever. nothing ever trickled down. at that time a ceo's year end bonus 400,000 -2,000,000. now the go in the range of 400,000,000. the person making 10 dollars an hour makes on average 12.50 now if you say that what he sold it as your a fool. the rich got richer the working class got poorer.
2007-01-01 19:52:08 · answer #3 · answered by Anonymous · 1⤊ 0⤋
The trickle down theory was just another BS plan to sell tax credits for the wealthy, and explain it to those who had to carry the tax burden. If you think spending trillions of dollars you don't have is sound fiscal policy, then you probably love gw too.
2007-01-01 19:31:38 · answer #4 · answered by Anonymous · 5⤊ 2⤋
yes we know . and george herbert walker bush carried on the flame , to bad the clinton corruption and hipocracy had to be the one to tear it down. along with the us millitary. our country can't afford another clinton era, get out and vote in 2008.
2007-01-01 19:36:55 · answer #5 · answered by charlesmartinez151 3 · 1⤊ 3⤋
As someone who got pissed on instead of trickled down upon, NO it didnt.
2007-01-01 19:31:58 · answer #6 · answered by fancyname 6 · 4⤊ 2⤋
http://www.geocities.com/syrusharmino/National-Debt-GDP.gif
2007-01-01 20:50:42 · answer #7 · answered by Mabus 3 · 0⤊ 0⤋
Yeah, I know.
2007-01-01 20:44:02 · answer #8 · answered by Anonymous · 0⤊ 0⤋
CREDIT CARD works for me everytime too ........ UNTIL I HAVE TO PAY IT
2007-01-01 19:41:11 · answer #9 · answered by AlfRed E nEuMaN 4 preSIDent 4 · 3⤊ 0⤋
No.
And neither do you.
2007-01-01 19:41:27 · answer #10 · answered by bettysdad 5 · 2⤊ 0⤋