Tuesday, July 13, 2010

Deficit Chicken Hawks vs Ronald Reagan | The Big Picture

I do not consider myself to be a great writer nor a great scholastic mind, but I can pick out frauds and morons. Here is a highly regarded financial author, runs a very popular blog, and makes countless appearances on nightly news shows. He is also a man that has obviously never studied Ronald Reagan. He tries to draw similarities between BHO and RWR that couldn't be more different in substance. Just to point out a handful: 1) Congress creates a budget, not the President; RWR pushed for increased spending in our military only. Democrat Congress under both RWR & BHO 2) BHO is fundamentally transforming our country by means of re-distributive measures. RWR cut taxes for all without prejudice. Btw Mr. Riholtz, RWR didn't have an "electoral base". He won MASSIVE landslides in 2 elections; the entire USA was his electoral base. 3) Double digit interest rates and sky high inflation under RWR; none of the above under BHO. Reversing course of that magnitude took time. Injecting TRILLIONS of dollars into our economy now should have some positive impact but it hasn't. BHO's 18 months of spending > all Presidents before him COMBINED!