Budget matters
Regarding “Unusual combo: Hot economy, high deficit,” (Business, Monday): In the 1980s, Ronald Reagan flipped conservative ideology 180 degrees from fiscal responsibility to using tax cuts and budget deficits as a weapon against the federal government (i.e. the American government). In the 1980s, market forces in the oil industry ended stagflation. Reaganomics was irrelevant, yet even with a growing economy, Reagan ran up massive deficits, tripling the national debt in eight years. This GOP assault on government continues.
Meanwhile, Democrats are as confused as Republicans and to this day have not pointed out the absurdity of Reaganomics. They should have heeded the words of Houston’s own George H.W. Bush who had called Reagan’s economic policies “voodoo economics” during the 1980 GOP primary. Democrats retain their majority party status only because they are always running against Republicans.
So Americans find themselves trapped between two factions, one hell-bent on wrecking government at all levels with debt and underfunding; the other too confused to leverage its historic economic advantage since the Great Depression by justifying reasonable economic policies. The ultimate blame goes to voters who are responsible for all aspects of government through their elected officials. Unfortunately, future generations will pay the price. Michael D. Gilbert, Houston