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Showing posts with label stimulus. Show all posts
Showing posts with label stimulus. Show all posts
Thursday, March 1, 2012
Tuesday, March 17, 2009
Concerning recent opinion letters to the Rapid City Journal
March 17, 2009
Several opinions have been expressed about the size of the Obama economic stimulus proposal. They imply that the proposed cost is too high, as if a proposal of this magnitude has never before been considered or implemented. Faced with recession at the beginning of his presidency, Ronald Reagan’s spending policies increased the national debt from $700 billion to $3 trillion. Real gross domestic product increased and sixteen million new jobs were created during Reagan’s time in office. Similarly, Obama’s proposal is not based solely on increased government spending. His plan includes tax relief too. Not everyone was satisfied with the Reagan presidency, but criticism of Obama’s plan should be tempered by awareness of the policies of a locally revered former President. Much of the debt incurred by the deficit spending of the Reagan years was purchased by Japan and matured during George H. W. Bush’s presidency. However, by the end of the Clinton administration, deficit spending was erased and there was a budget surplus.
Several opinions have been expressed about the size of the Obama economic stimulus proposal. They imply that the proposed cost is too high, as if a proposal of this magnitude has never before been considered or implemented. Faced with recession at the beginning of his presidency, Ronald Reagan’s spending policies increased the national debt from $700 billion to $3 trillion. Real gross domestic product increased and sixteen million new jobs were created during Reagan’s time in office. Similarly, Obama’s proposal is not based solely on increased government spending. His plan includes tax relief too. Not everyone was satisfied with the Reagan presidency, but criticism of Obama’s plan should be tempered by awareness of the policies of a locally revered former President. Much of the debt incurred by the deficit spending of the Reagan years was purchased by Japan and matured during George H. W. Bush’s presidency. However, by the end of the Clinton administration, deficit spending was erased and there was a budget surplus.
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