replies
1. going deep into debt is bad
Before Reagan, in 1981, the Federal Debt was 32.5% of US GDP. After Bush I in 1993 it was up to 66.3%. By 2001, Clinton had lowered it to 54.5%
"What President Bush has done is a lot like him going to the bank and borrowing $1,000 in your name, but then giving you only $250." Bob McIntyre
2. Paying massive amounts of interest is bad.
In 1980, net interest was 8.9% of the Federal Budget. By 1990 this was up to 14.7%, and by 1996 had grown to 15.4% before being reduced to 12.5% in 2000. It is lower now, because interest rates were lowered so much to revive the economy.
3. cutting funding to essential programs is bad
"If Congress instead were to vote for tax cuts for the poor, the middle class, the rich and the very rich -- but not the super rich -- there would be no need to cut Medicaid, school lunches, veterans benefits and the rest." Matt Bivens
http://thinkprogress.org/2007/01/18/bush-cancer"Bush’s 2007 budget proposed cutting funding for the National Cancer Institute by $40 million."
4. Reagan increased taxes and Bush proposes tax increases -
Under Reagan, FICA taxes, which are paid by wage-earners, increased. In 1981 FICA taxes were 6.65% on income up to $29,700. By 1990, they were 7.65% on income up to $45,000. For the self-employed, the FICA tax rate went from 9.3% to 15.3% in the same period.
Bush raises FICA taxes more subtly, by proposing benefit cuts. If you pay the same for less benefits that is equivalent to a tax increase. Just like if gas goes from $2 a gallon to $2 for 3 quarts is a price increase. You pay the same, but you get less.