Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/18/84 exptools; site whuts.UUCP Path: utzoo!lsuc!watmath!clyde!cbosgd!ihnp4!houxm!whuxl!whuts!orb From: orb@whuts.UUCP (SEVENER) Newsgroups: net.politics Subject: Re: Supply-side Economics: the Savings Rate Message-ID: <347@whuts.UUCP> Date: Fri, 1-Nov-85 16:27:17 EST Article-I.D.: whuts.347 Posted: Fri Nov 1 16:27:17 1985 Date-Received: Sat, 2-Nov-85 08:36:48 EST References: <1475@teddy.UUCP> <7800591@inmet.UUCP>, <756@whuxl.UUCP> <264@pyuxii.UUCP> Organization: AT&T Bell Laboratories Lines: 36 As usual Mr. Wheeler is full of opinions and very few facts: > The great theorist explains all again. Phooey, Sevener, you > seem to have Tip O'neil's party line rhetoric down pat. > First, supply side economics DOES depend on consumer spending, > not the savings rate. Second, when are you going to admit > that social spending far outweighs military spending? Who > has consistently pushed greater and greater social spending? > The House of Representatives, that's who. Who controls the > House. Tip O'spendit, that's who. I don't know about some > folks, but over the past four years, I have been making > more, spending more, and saving more percentagewise than > ever before. Perhaps it could be that I tore up those > damn credit cards and can now spend real money. I have > a feeling that if more people did the same, they would be > in better shape too. > T. C. Wheeler 1)Ronald Reagan has spent over $1 trillion on the military during his administration, far more than combined outlays for "social spending". For your information, Mr. Wheeler, "social spending" is usually not defined as money for the Weather Bureau, the Parks System, federal highways, etc. but money for various welfare programs. 2)Every year Reagan has submitted a budget the Congress has given him 95% of the funds he requested. Rhetoric notwithstanding the House of Representatives has consistently supported budgets LESS THAN Reagan's proposed budgets 3)Ronald Reagan has amassed more federal debt than all the Presidents up to Jimmy Carter *combined* 4)Numerous sources have pointed out that all Reagan's cuts in various welfare programs, which have hurt the *working poor* more than any other group, do not equal the increase in interest on the federal debt incurred during Reagan's monumental deficits. The New York Times has had several articles citing the statistics for this fact. I may have saved those articles and I will provide a reference if you wish to bother to examine facts