China's Largest Integrated Solar-Hydrogen-Storage Offshore Project Completed: A Reporter's Visit ...

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2. It didn't start with the Orange Faced Man

He is seeing to the completion of the “Starve the Beast” strategy of the late 70’s. (So-called) conservatives despised “big gomint” programs, primarily “social programs” but basically all things which could only be accomplished with a large federal budget, aside from the world’s largest military.

❝My goal is to cut government in half in twenty-five years, to get it down to the size where we can drown it in the bathtub.❞

– Grover Norquist

Ronald Reagan ran for President, promising an exciting new economic model, where, by cutting taxes (especially for the rich) the rich (who employed everyone else) would have more money to invest. The economy would be stimulated, employment increased and everyone’s income raised so much, that the government would actually take in more revenue. This new economic model was referred to as “Reaganomics.” His opponent, George Herbert Walker Bush, called it “Voodoo Economics” - until he became Reagan’s running mate.

It was during the Reagan administration that Herbert Stein (economic advisor to Nixon and Ford) coined “Stein’s Law.”

❝If something cannot go on forever, it will stop.❞

For example, deficit spending cannot continue to expand year after year. The National Debt cannot continue to grow indefinitely.

By cutting taxes, while continuing to spend, federal budget deficits increased, starting a trend which continues, leaving us with an unfathomable amount of interest owed on the astronomical national debt. So, now, when our current president says we cannot afford to do something, he’s arguably correct. Naturally, we can afford to spend money on things he feels are important.