pros/cons of econimcs in politics

Lets have it folks!

Since the economy seems to be one of the major points of this election, and of current affiars, what are the two political standpoints being rallied behind.

What do the republicas state as how to fix it? What do the democrats state as how to fix it?

Reagonomics doesn't work - the trickle down affect is just to little of a trickle. My opinion of course.

Spending our way out of a recession(depression) doesn't work either.

Although, I once thought atht Obama had information that stated there was no way to fix the economy. If that were in fact true, and we were bankrupt, then dumping a huge amount of resources into infrastucture makes sense. In other words, if we are bankrupt and going to have to claim bankruptcy, use the credit until it is gone. Once the infrastructure is in place, we could probably rebuild. This is a little off the deep end, but it hit me this way one day some time ago.

So, who wants to throw the first punch?

Mark hoefler said:

Reagonomics doesn't work - the trickle down affect is just to little of a trickle. My opinion of course.

I'll bite. With a question. Why do you claim that Reagomics didn't work. What left you feeling unsatisfied?

Let's look at a few facts which seem to indicate that cutting taxes worked amazingly well.

Federal revenues doubled during Reagan's term in office, after cutting tax rates. The only explanation for a doubling of tax revenues after a steep cut in tax rates is a massive stimulation of the economy. So supply side seemed to work most excellently.

How about jobs, and minorities? In late 1982, Reagan’s second year in office, the unemployment rate for blacks was 20.4 percent. By 1989, his last year, the black unemployment rate had fallen to 11.4 percent -- a 9 percent drop. In late 1982, the unemployment rate for Hispanics was 15.3 percent. By 1989, it had fallen to 8 percent. In 1982, according to the Census Bureau, there were 308,000 black-owned businesses. By 1987, the number had increased to 424,000, up 38 percent. The number of all U.S. businesses was up 14 percent. Receipts for black-owned businesses went from less than $10 billion to nearly $20 billion -- a 100 percent increase. That trickle down worked great for jobs and minorities. Reagan should have been a hero for blacks. But he didn't get credit because he wasn't a Democrat, he was from the party of Martin Luther King that amended the constition to give blacks equal rights, then later passed the civil rights act.

Dems will always bring up the deficit at this point, but that has nothing to do with revenues, jobs, and whether trickle-down economics worked. That has to do with spending.

History shows us that every time a president cut taxes, democrat or republican, federal revenues increased and the economy was stimulated and jobs were created. So why do people say that it doesn't work?

Of course the converse holds as well: raise taxes, depress the economy, increased unemployment. Why would things be any different this time?

P.S. Your typing is completely legible, you're doing great!

All conservatives please weigh in on the concept of externalities in the market.

http://en.wikipedia.org/wiki/Externality

If the right would recognize externalities and take more steps to mitigate them, I'd be happy with them.