Epstein Secrets

middle-class incomes were barely higher than they had been a decade before — and the poverty rate had actually risen. Like Ronald Reagan, President Bush began his term in office with big tax cuts for the rich and promises that the benefits would trickle down to the middle class. Like Reagan, he also

rty rate had actually risen. Like Ronald Reagan, President Bush began his term in office with big tax cuts for th

during the Reagan administration. What George H.W. Bush once called "voodoo economics" fast became t

5 percentage points, more than in any other country; at this rate, they could reach sustainable debt levels in two years or so." Kenneth Rogoff and Carmen Reinhart, the leading experts on financial crises, argue that the United States is performing better than most countries in similar circumstances. U.S. consu

get that during the arguments in favor of Reaganomics, prominent Republican economists publicly claimed that deficits didn't matter, and during the Bush/Cheney Administration there was almost universal silence about deficits as the country went from a $230 billion surplus to more than $1 trillion def

two main studies providing the alleged intellectual justification for austerity — Alberto Alesina and Silvia Ardagna on "expansionary austerity" and Carmen Reinhart and Kenneth Rogoff on the dangerous debt "threshold" at go percent of G.D.P. The problem is that the studies did not hold up under scrutiny. Becaus

e 1930s. Source: Melissa M. Favreault and Richard W. Johnson, The Urban Institute, “Raising Social Sec

change. — Foreigners own 46% (and rising) of USA Inc.’s debt, per Treasury Department — Are they going to keep funding USA Inc.’s spending? Note: *Carmen Reinhart and Kenneth Rogoff observed from 3,700 historical annual data points from 44 countries that the relationship between government debt and real GDP gro

nd Will Likely Remain Steady. Source: OECD, Dale W. Jorgenson, Mun S. Ho, Kevin J. Stiroh, “Growth of

aBaNAGAANANA OG AA 1 1 6 7 1 2 4 3 1 1 3 1 2 1 1 2 1 0 1 1 0 2 0 Top 1-25 Global $32,438 $47,081 -3% 81% $2,790 34,632 57,937 -2 100 2,885 Note: “Carmen Reinhart and Kenneth Rogoff observed from 3,700 historical annual data points from 44 countries that the relationship between government debt and real GDP gro

Is Different: Eight Centuries of Financial Folly, Carmen Reinhart and Kenneth Rogoff use historical data from 66 co

2016 article about the US economy, Gregory Mankiw, professor at Harvard University and former chair of the Council of Economic Advisers for President George W. Bush, highlighted “policy missteps,” ** including misguided fiscal policy, as a possible contributor to the slow pace of growth since the global financia

ncil of Economic Advisers for President George W. Bush, highlighted “policy missteps,” ** including misg