Comments by "nuqwestr" (@nuqwestr) on "'It's Almost Radioactive Around Here If We Tell The Truth': Schweikert Blasts House Economic Debates" video.

  1. When Reagan took over from Jimmy Carter the economy was one of double-digit inflation and interest rates near 20%. Reagan reduced the inflation rate (under 5% for the remainder of the administration), lowering interest rates, and added discretionary income from tax cuts sparked record economic growth, and produced one of the lowest unemployment rates in modern U.S. history (unemployment hit a 14 year low in June of 1988). As Reagan left office, the nation was experiencing its sixth consecutive year of economic prosperity. The economic gains, however, came at a cost of a record annual deficit and a ballooning national debt. The budget deficit was exacerbated by a trade deficit. Americans continued to buy more foreign-made goods than they were selling. The Board of Trustees of the Social Security Trust Funds reported that the program had a very serious long-range deficit. Same for Medicare, as Boomers retired. We know why the deficient grows and grows, we print money to pay for Medicare it's the second largest program in the federal budget, and social security has been running at a deficient since 2010. While you are factually correct, it clearly only tells a sliver of the full story of our growing debt. Lower medical costs and bring jobs back to the US, increase energy production, and we can balance the budget, regardless of what party is in office.
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