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May 24, 2007 09:04 PM UTC

Bob Schaffer on Economic Responsibility

  • 3 Comments
  • by: Senate 2008 Guru

[Originally posted at my blog Senate 2008 Guru: Following the Races.]

Conservative former Rep. Bob Schaffer made a funny:

Bob Schaffer outlined his 2008 senate-election platform at the Lincoln Day Dinner Saturday. …

He said that Republicans should be more economically responsible, such as the Reagan administration was.

Hmmm… Reagan administration… economically responsible… well, let’s check the statistics (in PDF).

National debt in 1980 at the start of the Reagan administration: just over $900 billion, or about one-third of our annual GDP.

National debt in 1988 at the end of the Reagan administration: over $2.6 trillion, or just over one-half of our annual GDP.

That’s what Bob Schaffer calls “economically responsible”?? Nearly tripling the national debt in eight years? Wow.

Comments

3 thoughts on “Bob Schaffer on Economic Responsibility

  1. your objective is to ruin the country, which IS the dominant, i.e., those Republicans in positions of power…objective. Is there ANY other explanation?

    1. Nope ruined when they got there.  Double digit inflation, double digit unemployment.  Within 4 years, due to monetary policy, both of those were cut nearly in half.  Won the cold war too.

      You call the ruined? You seem to have forgotten your history.

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