Originally Posted by Black Death
I'm from Australia - and I apologise if I am overly hurtful to the person a lot of people see as a hero around here. Obviously, as I've stated, I just don't see why Reagan is lionised as he is because the facts as I see it just don't paint him that way. As I see it Reagan is the root cause for your economic ills today, his policies and his economic approach started this entire debt-cycle that you are locked into today. Don't forget he escalated your public debt by a factor of almost 500% (when you count in the fiscal lag experienced by Bush 1) in 12 years what took your country almost 200 years to build. Reagan was awful for your country because your country is built on its well-earned economic might - during his time your country went from the largest creditor in the world to one of the worlds largest debtors - he whittled away centuries of good work of your previous leaders and citizens. The apologists for him claim he did this to "break communism", but if you can make a link between supply-side economics and the breaking of communism I'm a monkey's Uncle. The thing is I just can't understand why he's such a hero to certain people over there when he should be the exact opposite. Reagan had the leadership and economic skills of a poor Hollywood actor, funny that.
While I like your posts, what about the "labor inflation" that Reagan fought against?
"Labor" or unions, were flexing muscles like it was their right; and each Union (comprised of homogenous elements) became "islands agaisnt reality" behaving pretty much against the public good as the leaders tried to "earn" a "bigger piece of the pie" for their members.