Linked by Thom Holwerda on Tue 31st Aug 2010 22:09 UTC
Legal Despite doing what I think are some great things for the American people, the Obama administration has a dark side. Joe Biden and many others on staff come straight from the RIAA camp, and it shows. Today, the Obama administration disregarded every US law relating to theft and copyright by stating that piracy is "flat, unadulterated theft".
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RE[2]: Screwed again
by ricegf on Wed 1st Sep 2010 09:32 UTC in reply to "RE: Screwed again"
ricegf
Member since:
2007-04-25

"P.S. Did you know Reagan oversaw the largest increase in the Federal Deficit as a percentage of any modern president? "

Y'know, you really can't just go around making stuff up like this and expect a pass.

Go look at the Congressional Budget Office data*. (I hope you're not like other Reagan-haters to whom I've pointed this out, who insist that the CBO just isn't as reliable source of information on the economy as MoveOn?)

Look at 1981 (when President Reagan took office) and 1989 (when he left office).

The deficit grew from 2% to 3% of GDP.

Now look at 2009 (when President Obama took office) and today (the dashed line).

The deficit grew from 3% to 6%, with projections of 9% by the end of 2010.

Yes, sure, the economy is bad - but it was a disaster when Mr. Reagan took office, too (remember 14% inflation and 20% mortgages? No, you probably don't). When he left office, inflation was only 3% and mortgage rates were down to 7%. The economic recovery begun under his watch continued right up until 9/11. Winning the Cold War was just gravy.

Set aside your hatred for a moment and let your inner geek emerge - look at the data. Reagan is remembered so fondly by most Americans** because his policies worked.

Will Mr. Obama's? Too early to tell. I hope so, but I fear he and the lopsided congress will spend us into bankruptcy first.

* See http://www.cbo.gov/ftpdocs/99xx/doc9957/MainText.3.1.shtml#1100451. That huge freaking cliff on the right is Mr. Obama's "spend us into prosperity" strategy at work.

** See http://en.wikipedia.org/wiki/Historical_rankings_of_Presidents_of_t.... Ronald Reagan places 5th, 2nd, 2nd and 9th in recent polls seeking the best president in all of history.

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