Saturday, September 20, 2008

McCain: “We need to return to the Reagan years… we need less regulation.”

The above quote from McCain was not from his days just after the Keating 5, no... it was in a PBS interview from this year. [PBS “Washington Week,” 1/25/08]

Despite his claim to hate the debt, Reagan instituted unprecedented peacetime deficit spending. This is not partisan politics, this is straight off the White House web site. As the graph shows, Bush II repeated Reagan's performance and turned the debt upward again. (Bush II's own Office of Management and Budget provides all this data).

The Bush II curve on this graph is much less steep than it should be. This data was plotted before the new bailout crisis which will raise the statutory limit on the national debt from $10.6 trillion to $11.3 trillion to make room for the massive rescue ... not to mention the over 600,000 jobs lost this year through August.

Look hard at this graph. Notice which presidents managed America better. Any questions?

And McCain wants to return to the Reagan years.

I think we need a change.

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