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Reagan created and governed on unprecedented peacetime deficits caused by his military spending and tax changes. If his policy had any meaningful influence over
by Hammershaft 4y ago
Reagan created and governed on unprecedented peacetime deficits caused by his military spending and tax changes. If his policy had any meaningful influence over the economy of the 80s it's likely the massive deficit spending.
That said, the link between presidential policy & short term economic changes is universally overstated. The government can cut down basic research funding and the effects won't be felt for a half century.
- WalterBright 4y agoMy point was his policies caused a shift in investment capital away from unproductive tax shelters and into productive investments. Eliminating the tax shelters was part of the deal he made with Democrats to get the budget passed. That can't help but produce positive economic changes.
- 8note 4y agoThe investment shift being into military contracting though?