Reply #40: Look at how Reagan got the country out of it's recession + high inflation versus how Clinton did it. [View All]

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Reagan cut taxes across the board, increased defense spending, and cut a slew of federal programs (like Medicaid, food stamps, and FDA/EPA funding) to "pay for it".

Clinton increased federal spending, didn't cut anything in the first couple of years, added to the federal deficit in the short term. Then after the economy rebounded, he was able to increase some spending on federal programs with the increase in tax monies from millions of people getting new jobs. He also was able to pay down the federal deficit until it was a surplus at the end of his 8 years.

Which one created tens of millions of new jobs while not harming needed federal programs for the lower income Americans? Clinton's approach.

Obama has already said two things in the debates:

1.) He might have to delay some things, notably the tax increase on the wealthy. He would just let them expire in late 2010 instead of overturning them in early 2009.

2.) It would realistically take about 10 years to fully pay down the federal deficit, which he felt was going to increase to about a trillion dollars in his first year.

Why would he say that? Because he plans on increasing federal deficit spending in the short term, to help fund those ambitious programs such as broader health care, alternative energy research, and increased federal funding of scientific research.