quote Originally posted by Formula88: By that logic everything that any politician has ever done was someone else's fault for paying them.

Not true, each situation must be looked at independently. In the case of the S&L deregulation wall street lobbyists and wall street money were very influential in bringing it to fruition. Regulation was so lax that there were even organized crime members involved in running S&L's. The forgotten Bush son Neil Bush was heavily involved in the failed S&L "Silverado"

quote Originally posted by Wichita: It's blind rightest who think that Reagan did not pile up huge debt , but his era that was in fact the case. Republicans are big spenders.

1.8 trillion isn't a huge debt. obama will do nearly 10 trillion when he is done. that is huge!!! leftists use percentages to spin their argument. here is a percentage. OBAMA only paid 19% in federal taxes last year and he is a millionaire. that greedy democrat hates the poor and refuses to pay his fair share.

Some have referred to the Savings and Loan Crisis of the 80's and as usual it is tied to a republican being in the white house as if the opposition controlled congress had no power or participation in policy matters. In reality the monetary policies of the 60's and 70's striped away the value of the dollar. In essence, they used monetary policy to steal the savings of every American in the country. The same thing happened when GWB and congress authorized the purchase of troubled assets. It continue when Obama took office through Quantitative easing. Anytime the government authorizes the excess printing of money or borrowing to cover budget deficits, it always brings down the value of the dollar and reduces our buying power. As for the savings and loans crisis is concerned, high inflation, bad monetary policy and the combination of loan defaults, lack of new depositors and demands to withdraw of savings, created a lending environment where loan rates were too low to attract new depositors. It's not the economy stupid, it's the monetary policy. And again, Both parties have blown it (maybe intentionally) Since the end of the Reagan Administration. For one thing the terms Balance and Budget have been used but we have yet to see either. The Voodoo economic trick that still gets played today is the myth that Clinton produced a Surplus. It' was a "Budget Surplus" which means it only existed as a hypothetical outcome if left unchanged. No surplus was acheived in reality, just on paper.

quote Originally posted by Khw: ... Social Security was the largest "social program" expense we currently have. Between it and medicare, other "social programs" were a drop in the bucket (well maybe a slow and steady drip).

Social Security, by theory, is pre paid. One has to wonder how it can be considered an expense. .

Missing from this conversation is interest owed by each President's debt increase.

quote Originally posted by cliffw: Social Security, by theory, is pre paid. One has to wonder how it can be considered an expense. . Missing from this conversation is interest owed by each President's debt increase.

I don't have to wonder.... and I'm pretty sure you don't either.

In theory, yes. In practice when you use the money for something else... You have to replace it eventually.