Bush Sr - "Reagan hastened the collapse" -- didn't cause it

Fri, 02 Mar 2007 22:30:27 GMT

clipped by: earnric

As his vice president, George H.W. Bush, said after Reagan was shot and hospitalized in 1981: 'We will act as if he were here.' He is a heroic figure if not always a hero. He did not destroy communism, as his champions claim, but he knew it would self-destruct and hastened the collapse. No small thing.

Tags: politics, reagan

Reagan - moved US from biggest creditor nation to biggest debtor

Fri, 02 Mar 2007 22:26:24 GMT

clipped by: earnric

Clip Source: en.wikipedia.org

In order to cover Reagan' federal budget deficits, the United States borrowed heavily both domestically and abroad, and by the end of Reagan's second term the national debt held by the public rose from 26 percent of Gross Domestic Product in 1980 to 41 percent in 1989, the highest level since 1963. By 1988, the debt totaled $2.6 trillion. The country owed more to foreigners than it was owed, and the United States moved from being the world's largest international creditor to the world's largest debtor nation. ^[23]

Tags: politics, reagan

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Bush Sr - "Reagan hastened the collapse" -- didn't cause it

Reagan - moved US from biggest creditor nation to biggest debtor