Reagan added $2 Trillion in early compounded debt--200% increase--& hid another 70% increase in SS

[sfpcjock]

By now that $2.7 Trillion debt that Reagan added is at least $6.0 Trillion in compound interest. Watch Suze Orman sometime to learn more about compound interest.

(I calculated the above at a low 3% average interest since 1984. http://www.moneychimp.com/calculator/compound_interest_calculator.htm )

The Social Security surplus is held in U.S. Treasury Bills (bonds). Reagan said that if the government owes money to itself then it will not be counted in the National debt. Hence he created a fraud to hide excessive use of the credit card to run up burdens for our kids to pay, and to "drown government in a bathtub". "Deficits don't matter," they said, and created another fiction of supply side job creation to justify irresponsible behavior.

[louis-t]

1. Repugs are wrong about EVERYTHING.

[ashling]

2. Thank you, but

Suze Orman scares me :scared:





:rofl:

[LiberalFighter]

3. Wasn't Stockman OMB director at the time?