Reagan?
Reagan was just like the other silly trend of the 80's--- Cocaine. It made you feel good for a little while, but when you woke up, you were broke, and you had a sexually transmitted disease.
Of course Reagan's economic ideas sounded good at the time. They had absolutely nothing to do with economic responsibility. It's like being confronted for writing bad checks and saying "But I've got all this cool stuff..."
39 Presidents before Reagan... Know how much debt they accumulated? $995 billion. By the time RR left, it was $2.6 trillion. To put it in perspective, Reagan, in each of his two terms, came dangerously close to matching the debt of the preceding 39 presidents. Bush the Elected continued Reagan's policies and kicked it up to $4 trillion by the end of his term.
Reagan went for broke with a "starve the beast" philosophy of government, a sequel to which we're seeing now. His idea was to suck the money out of every social program out there and pump it all into defense. Well, he didn't have the authority to cut much of what he proposed. So in fact, while there were radical cuts to social spending (Perhaps most tragically in the field of medical research, as we had no representation at the vanguard of a new epidemic), he simply increased government spending, like a Keynesian with ADD that walked away after doing only part of the job. His defenders have tried many times over to blame the spending on Congress, but Congress's budgets constantly came within 2% of his.
On defense, whether it's popular to admit it or not, he did hasten the fall of the Soviet Union--- By about twenty minutes. We weren't the only ones under bad economic leadership. They were too, and the weak spots in their armor had been showing for quite some time. Every POTUS since Kennedy has the same bragging rights there. Reagan was in office when the roof caved in on the Soviets.
We're still weighted down by his Star Wars albatross--- A money pit made even more absurd by the fact that we no longer face any traditional threats. China won't attack because of the same principles that kept the Soviets from doing so--- Geographic isolation and mutually assured destruction. It won't stop a terrorist attack. Considering that some of the vital parts are expected to be developed in the year 2025, who knows what kind of threat we'll be facing by then?
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To name my favorite, I'll borrow an anecdote from John Fitzgerald Kennedy--- Who is not my favorite, incidentally.
At a dinner for 49 Nobel Laureates, he said that it was "the most extraordinary collection of talent, of human knowledge, that has ever gathered at the White House, with the possible exception of when Thomas Jefferson dined alone."
Good day.
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