25 years ago in reason.

• Position: Citings - Brief article

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"By spending $200 billion more than they take in each year, our President and Congress have doubled the national debt in just four years--from $1 trillion to $2 trillion. Interest alone is now eating up $150 billion a year."

--Robert Poole Jr., "Who Should Sacrifice?"

"The comparisons between the 1980s and the 1920s are alarming. First, as in the '20s, Americans have a careless attitude about debt.... Despite Reagan's so-called economic recovery, homeowners are defaulting on mortgages in record numbers, and banks and savings institutions are going...