Continuing with our History Lesson on the U.S. National DEBT- The REAGAN Era Begins Looking back now, I’m of the opinion that the decade of the 1980s was the most “interesting” & “controversial” decade of the 20th Century. So much was going on. Things were happening “out of the Blue” and the UN-usual became almost “normalcy.” One can easily say that Ronald Wilson Reagan was very much an “out of the ordinary” CEO of America as well. He was an “out of The Box” kind of Thinker who wasn’t too fearful of “trying a different approach” to solving a problem. (Aquarians are just those kind of folks. Once they DECIDE to try it, it’s ON, like Popcorn………) Unfortunately, several of the things the 39th U.S. President did while in The OVAL Office had BAD repercussions for The Nation THEN, which helped to put it HERE & NOW. One of the things that occurred from the initial Reagan Tax Cuts to the Super Rich of the Upper Class was that Corporate America decided to KEEP its “pockets lined” with what it didn’t have to PAY to the IRS. This PLANTED the “seed of Greed” in the minds of corporate heads & upper management to FIND ways of cutting Costs to produce more Profits, by any means necessary. So, a handful of corporate thinkers came up with a BRILLIANT idea…………………. “USE CHEAPER Labor to make the same products & perform the same services for the customers.” But WHERE was Corporate America gonna find such Labor in the U.S. ? (Uh, I guess they FIGURED OUT that The AMERICAN Holocaust WAS, indeed, over with. So, that idea wouldn’t have worked out…………) NEXT Idea……………… “TAKE the Jobs themselves to the PLACE where the cheaper Labor actually is.” “And WHERE is THAT ?” ANSWER : Across The Pond to the poorer, 3rd - World nations. THIS is the point when America’s High-Paying Manufacturing Jobs began their EXODUS out of the U.S. to places most Americans STILL can’t locate on a Globe without a Librarian’s assistance. Malaysia. Taiwan. Sri Lanka. Indonesia. Ceylon. Pakistan. Afghanistan. Burma. Borneo And back in The States, the American Middle & Lower Classes immediately began feeling the economic “pinch” of having to DO with LESS from not just the Loss of those Jobs, but also having to TAKE ones at LOWER Wages. And with little or NO Benefits. When Ronald Reagan entered The WH at the start of 1981, the national unemployment rate was about 7.5%. JIMMY CARTER had done a fairly good job keeping America WORKING under his administration, the later half of the 1970s. But by the end of 1982, the UR had SOARED to double digits at close to 11% on Ronald Reagns WATCH. (Those of us who are classified as MELANATED People can “adjust” this figure to REFLECT what was going on in BLACK America. WE were seeing URs between 20 – 35% in many metro areas across The Country. ) Reagan made his Wealthy constituents HAPPY & GAY, by lowering their overall Tax Rate. BUT, he later had to come back to the Working Class Americans to begin slowly RAISING their Tax Rates. WHY ? Because of the Shortfall in Government Revenues from The Wealthy NOT paying their fair share of the Tax Burden on WE The People as a whole. And like “Smilin’ SAM, the Happiness Man” Ronald Reagan FOOLED The Masses so easily that it HURT. But even after raising the Tax Rate on the Middle & Lower Classes, there still remained a deficit of Revenues to run The Government. Now, it’s at this point in our story we have to INTRODUCE one of many of Ronald Reagan’s “partners in Crime.” This man should be a familiar name to most of us…….. ALLAN GREENSPAN It was Greenspan, a highly educated Finance expert (and whom The President would later APPOINT as Chairman of The Federal Reserve) who persuaded Reagan to finish balancing The Budget using an alternate source of Money The Government had never before “touched” for anything other than what it was set up for by the great FDR during the Depression Era in America, the 1930s. Reagan began DIPPING into the, SOCIAL SERCURITY TRUST Fund One of the main reasons WHY Reagan decided to use Money from this Fund is because “experts” like Greenspan had already sat & DONE the math on it. They knew that the main group of Babyboomers were just starting to enter the American employment ranks at the start of the 1980s. By roughly theorizing that the average worker of this generation would probably work for well over 4 decades (1 generation) there would be Time to REFILL that void left in The SSTF by the time Babyboomers would come into retirement age around 65, at present. (Most of us on this webpage are in that group. We have about 15 to 20 more years we can work, if our overall Health keeps us ACTIVE……..) Trouble is, though that since The Reagan Administration left The WH, the succeeding administrations & Congresses haven’t been able to FILL the Void back UP. (We may get a little DEEPER on this later on…………..) The 1st Recession of the Reagan Era was on-the-move by the end of his 1st term in Office (1985). To ADD to this, there were other things going on that made things even worst for the Reagan Presidency, as well as America as a whole. We’ll get into this NEXT TIME………………
Posted on: Thu, 13 Mar 2014 04:13:33 +0000
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