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...billion annual deficit that the Federal Government was already heading for before this new thing came along. And yet that didn't seem to have any real-life effect either. Nor have any of the other gargantuan numbers that have floated past us in the generation since Ronald Reagan declared in his first Inaugural Address that society is like a family and has to live within its means. We took this as an invitation for our families to start borrowing like the Federal Government. So now we have the national debt, credit-card debt, student-loan debt, plus Social Security...

Author: /time Magazine | Title: The Ponzi Economy | 9/25/2008 | See Source »

This country's move into big-time debt exports began with the big-time government deficits of the early 1980s--which had to be financed by somebody. "The Reagan Revolution was essentially an experiment in seeing how much money America could borrow from overseas," says Murphy, who at the time was an investment banker in Tokyo. The answer was lots. Guided by Murphy and his ilk, Japan snapped up U.S. treasuries and other debt, keeping interest rates here from exploding as many had feared...

Author: /time Magazine | Title: America's No. 1 Export: Debt | 9/25/2008 | See Source »

...Tell and Hillarycare. Then the Contract with America and the ’94 midterms. Then two government shutdowns. Then Monica Lewinsky. And then, and then, and then.By 1999, Democrats had been out-bullied by a Republican political machine capitalizing on the very same Culture War issues that led Reagan and Bush to victory in ’84 and ’88. Even worse, the GOP had pummeled into submission a man who handled those Culture War arguments so well in the ’92 campaign, ushering in “war room” tactics that...

Author: By Nicholas K. Tabor, CRIMSON STAFF WRITER | Title: Huffington Just Doesn't Get It Right | 9/25/2008 | See Source »

...story that Quadrat still remembers vividly—two years after taking the course—Porter described Ronald Reagan as one of the most confident men he had ever met. But Porter added that while Reagan was preparing for an interview with Forbes magazine, the president said, “I feel like I’m cramming for a final exam...

Author: By Abby D. Phillip and Charles J. Wells, CRIMSON STAFF WRITERSS | Title: The Executive Professor | 9/24/2008 | See Source »

...something more in the financial markets has been heard all over, from Congress, a midtown Manhattan law firm, the Secretary of the Commonwealth of Massachusetts, cable TV business news and former SEC commissioners. But is all the criticism being hurled at Cox, a corporate lawyer who served in the Reagan White House and as a Congressman from Orange Co., Calif. for 17 years before being plucked to run the SEC in 2005, justified...

Author: /time Magazine | Title: How Much is the SEC's Cox to Blame? | 9/23/2008 | See Source »

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