Lets make fun of Obama while he is still relevant.

[David Horn]

(12-07-2016, 10:30 PM)Warren Dew Wrote: Between 1980 and 1988, the inflation adjusted deficit grew by $84 billion.  Spending grew by $386 billion, more than four times as much.  It's quite clear that the deficit increase was due to spending, not to anything on the revenue side.

That said, the revenue effect is, as I pointed out, just the sales pitch.  The ultimate objective was supply side fiscal stimulus.

1980 saw the end of stagflation, caused almost exclusively by the Saudis (1973 oil embargo) and the Iranians (1979 equivalent).  Once Paul Volker killed inflation, and the Iranians released our hostages, the economy turned a corner.  The bounce-back from the deep V recession, added to all the military spending, got the economy going strong, but neither of those are supply-side effects.  I don't see any evidence that the admittedly supply-side tax cutting had much influence at all.