President Reagan's trickle-down economic policies led to an era of lowering taxes and revenue while continuing to increase spending. This policy resulted in an explosive growth in the national debt which continues to this day. Consider the following chart:
When thinking about the national debt, its important to measure the debt as a percentage of gross domestic product. Gross domestic product (or GDP) is a measurement of the value of all goods and services produced in a nation in a year. its helpful to look at the percentage of national debt to GDP for a few reasons:
Comparing percentages taken inflation out of the consideration, allowing for more fair comparisons over long periods of time.
Using percentage debt to GDP gives the reader a sense of the scale of debt and what the amount of debt means for attempts to pay it off.
1. What might be the costs of having such a large national debt?
2. Did the promise the tax cuts would result in a growing economy that would pay for any budget shortfalls come true during the Reagan years
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History, 22.06.2019 02:30, issaaamiaaa15
Alot of points! ! what was the greatest achievement of el libertador, simón bolívar? a. he became a military strongman in peru. b. he freed venezuelans from spanish rule. c. he bernardo o'higgins liberate chile. d. he united mexicans of all races against spain.
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