Ronald Reagan Quotes

A dynamic economy, with more citizens working and paying taxes, will be our strongest tool to bring down budget deficits

 
Context
Almost all modern economists and politicians agree with this classic statement. The problem however has always been in what was the best way to stimulate the economy and critics of Reagan observe that because so many politicians believe this principle, they are willing to do deficit financing because later if the economy was strong, the deficits could be paid back. Reagan left an enormous deficit and his successor, George W. Bush could not erase it. However, in Clinton Administration proved the Reagan principle and went from the largest deficit in American history to the largest surplus. However, the George W. Bush administration, gave enormous tax cuts and got into 2 wars producing and even larger deficit than his father’s administration. However he also had the economic crisis of 2008, where the economy almost totally collapsed. All agreed that to get back to Reagan’s principle the economy had to be stimulated but there was bitterness and no consensus of how that might be done. So the partisan issue became what is the best way of producing the “dynamic economy” in Reagan’s quotation.
Ronald Reagan
Ronald Reagan
  • Born: February 6, 1911
  • Died: June 5, 2004
  • Nationality: American
  • Profession: Former President of the U.S., Former Governor of California, Politician, Actor

Ronald Wilson Reagan was an American politician who served as the 40th president of the United States from 1981 to 1989. Prior to his presidency, he was a Hollywood actor and union leader before serving as the 33rd governor of California from 1967 to 1975.