Reagan's Mean-Spirited Legacy of Economic Disaster

openleft.com — As we approach the centenial of Reagan's birth, conservatives are whipping up the country into a frenzy of addled adulation. It's time for a bit of a reality check. When it comes to Reagan's economic legacy, the record is crystal clear: Before Reagan, we were on a path on reducing our debt-to-GDP ratio, the most fundamental measure of national fiscal responsibility. With him, we began using irresponsible increases in the debt-to-GDP ratio to produce extremely skewed economic growth targeted narrowly toward the very top of the income ladder. The so-called "Reagan miracle" is a complete and utter myth.

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