Financial Control a Must for Regulation
In response to Rodney K. Ward’s attempt to canonize President Ronald Reagan (April 30), his letter should be checked for facts and foolishness.
Trickle-down economy has never worked and never will. The trickle stops at the bank accounts of the wealthy and serves mainly to enlarge the gap between the richest and the poorest.
Reagan is to be credited with building up our defenses by outspending the USSR.
In a compilation of national debt incurred by parties in power during a 60-year span, Democrats averaged 3.2 percent per year while Republicans averaged 4.2 percent per year.
Clinton did not squander Reagan’s gain. He raised the debt only 4.3 percent and brought spending under control and debt growth to near zero. Since then the neo-conservatives have demonstrated that they cannot or will not control spending.
Ward used the familiar scare tactic of “socialism” instead of the “pluralism” that most Americans appear to want.
I am a centrist who believes that strong financial control is necessary to regulate the casino that is Wall Street.
David F. Weigel
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