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I don't buy that at all. I figure that 70% of our debt is due to Reaganomics, as I wrote here
"Well, total debt in 2007 was almost $9 trillion, since something like $4 trillion is owed to the baby boom generation for their retirement. More noteworthy is that between George Washington and 1980, our nation accrued $909 billion in debt. Then Reagan was elected, promising tax cuts that would increase revenue. By 1990 our national debt had more than tripled, to $3,206 billion.
President Clinton and the Republican Congress "only" added $1.41 trillion to the debt. Then JR Bush was elected, promising tax cuts that he said would use only 1/4 of the projected surplus. In the six years between 2001 and 2007, Bush and the Republican Congress added almost $3.2 trillion to the debt.
So 72% of that $9 trillion in debt comes from Presidents Reagan, Bush and JR Bush. Just 18 years of Reaganomics added more to the debt than WWI, WWII, the Great Depression, the Great Society, the Vietnam war, the Apollo project, the Marshall Plan, the Louisiana purchase, the Civil War and everything else before 1980. Isn't it time for people like Jenkins to stop promoting the policy of Reaganomics that got us into this mess?"
72% of our debt today (or more, since I only used 2007 figures) comes from Presidents Reagan, Bush, and Bush II. They were all warmongers to an extent, but war has been pretty constant throughout our history. There were plenty of wars before 1980, so that is not new. However, one thing that has changed is the pay. Wars used to be fought be ordinary citizens who were drafted and forced to fight and only paid $20 a day plus free cigarettes (okay, I am obviously guessing at the pay). Now they are fought first by soldiers who are paid above median wages, but since we cannot get enough people desperate enough to risk their lives for only halfway decent pay and because a draft would be political suicide, today's warmongers have relied on more highly paid contractors. That's sort of a double benefit since the warmongers pals are all in the war business and get to make hefty profits.
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