I just can't sit by and not offer rebuttal to the Price column. First, it is written in such a way it sounds like a lot of nonsense. In his 1980 campaign, Ronald Reagan blamed big-spending Democrats for the economic woes of the nation and promised he would balance the budget by 1984.
It took 39 Presidents a total of 192 years to amass a national deficit of $1 trillion. It took Reagan just 5 1/2 years to get the nation its second trillion. At the going rate of voodoo economics, a third trillion of red ink will become a reality by the time Reagan leaves office in 1989.
This national deficit will have to be repaid someday or our dollar will become devalued considerably.
Most of this money is owed to American citizens who bought U.S. government bonds. The new income tax "reform" rules are made in such a way that the middle-class Americans will pay the bulk of the taxes and the rich will pay less.