Reagan got elected by telling the country the debt was "out of control." Compared to national income, it was the lowest in 50 years. He probably didn't know. But his supply-side economists did. They lied to America.
In 1981 Reagan's supply siders wrote the tax cuts for the rich and his budgets. The Senate was Republican, and Reagan got the Southern Dems in the House to vote for him. All Republicans and a few Dems voted for the budget. The national debt had its worst year since 1945. The next year it got worse, and for 20 out of 20 years, the supply siders raised the debt relative to our ability to pay.
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