If you go back and look at our debt ratios, which I have recently, you will see a significant jump in the numbers starting in Reagan’s first term and extending until the end of 1992.
When Reagan went into office the debt to GDP ratio was almost 33%. When he left office it was 52.6%. This is with an expanding GDP. When his successor left office, President Bush, it was 66%. During the Clinton years it was reduced to 57%. Again, with an expanding GDP. When the second Bush left office it was 78%. We are now at a 100% or more.
If you look at the % change in the national debt during the last few Presidential tenures it is equally revealing. President Carter had a 42% increase; Reagan had a 189% increase; the first Bush had a 55.6% increase; Clinton had a 36%; and the second Bush had a 89% increase.
If you happen to listen to right-wing radio, you want have to listen long until some broadcaster will extol that bastion of conservatism Ronald Reagan. Reagan had a lot of virtues to be sure, but he was not a fiscal conservative, or even close to it.
Republicans were once known as fiscal conservatives, but it takes a long memory. The Republicans have not had a fiscal conservative in so long I don’t know if they would still recognize one. That is why a lot of people think Republicans can’t manage money anymore.