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→Debt: geez seems budget was balanced during Clinton years
===Debt===
===Debt===
Reagan was not the first President to increase the national debt -- in fact, the nation's first debts were incurred during the Revolutionary War. Nor did his Presidency see the largest increases -- while the debt increased by 160% during his two terms in office, it increased as a greater rate during World War II. However, the recent history of the national debt is intimately tied to Reagan. Fueled by tax cuts and a large defense build-up, the debt grew to record-setting levels during his tenure, and his administration saw the beginning of the current, relaxed attitude towards large deficits, offset by large cuts in Federal Government spending. By the end of Reagan's second term, the national debt had reached $2.6 trillion, or 53% of GNP, its highest level since WWII.
Reagan was not the first President to increase the national debt -- in fact, the nation's first debts were incurred during the Revolutionary War. Nor did his Presidency see the largest increases -- while the debt increased by 160% during his two terms in office, it increased as a greater rate during World War II. Fueled by tax cuts and a large defense build-up, the debt grew to record-setting levels during his tenure, and his administration saw the beginning of the current, relaxed attitude towards large deficits, offset by large cuts in Federal Government spending. By the end of Reagan's second term, the national debt had reached $2.6 trillion, or 53% of GNP, its highest level since WWII.
===Iran-Contra===
===Iran-Contra===