Thursday, June 30, 2005

On Deficits

Just as under Reagan, whenever we see a strong economy, tame inflation and low interest rates, the Left has to attack somewhere, so they go after deficits.

Under Reagan, we added $1.4 trillion to the federal debt. But when Reagan took office the market value of all American assets was $16 trillion. When Reagan left office the market value had doubled to $33 trillion. If you could take on $1 in debt to increase your assets by $12, I would hope you would hop on the opportunity.

Now that we are seeing an economy similar in strength to that seen under Reagan, expect the comments on the deficit to increase in the N&O.