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Past policies are only hope for US


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In 1981, President Reagan introduced trickle-down economics giving huge tax cuts to the wealthy while promising a boost in economic growth and job creation. After 12 years of the Reagan and H.W. Bush presidencies, the national debt had quadrupled, the yearly deficit had increased to $290 billion, and we had experienced two recessions.

In 2001, President George W. Bush did it to us again with huge tax cuts to the wealthy. Our economy almost immediately went into recession, and the huge surplus left by President Clinton was soon gone. After eight years of the Bush presidency, the national debt doubled, our economy was in the Great Recession, and we were left a $1.4 trillion yearly deficit.

Donald Trump and the Republican Party are wanting to reinstate the failed economic policies that have produced four recessions and left our nation with a $20 trillion debt. Again, they are promising an unrealistic economic growth rate, which will produce the revenue necessary to balance our budget and create millions of jobs.

President Clinton and President Obama each led our nation to eight years of continuous economic expansion without a single recession. President Clinton left a $234 billion surplus, and President Obama paid the $1.4 trillion deficit down to just over $500 billion. Both significantly reduced the costs of government left by their predecessors.

With our $20 trillion federal debt and some $70 trillion total debt, I seriously doubt our nation can survive as the world economic power with any more tax cuts. In my opinion, our only hope is to continue in the economic policies used by both Clinton and Obama.

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John Grogan

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