Thom Hartmann: 'Caller: Ronald Reagan Exponentially Increased Revenue'

Source:Thom Hartmann with a look at Reaganomics.

"A right wing caller tells Thom that President Ronald Reagan's economic policies actually increased revenues to the Federal Government." 

From Thom Hartmann

You can get these numbers from the Federal Reserve, Congressional Budget Office, or Office of Management and Budget, all agencies that keep track of the United Sates Federal budget, as well as its deficit and national debt. 

When Ronald Reagan came to office as President in 1981, he inherited a 60 billion-dollar deficit. Which was actually fairly small compared with gross national product, even in 1981. When he left office in 1989, his Vice President George H.W. Bush, inherited a 155 billion-dollar budget deficit as as the new President of the United States.

When Ronald Reagan became President in 1981, the total Federal budget was 562 billion-dollars and that's in 1981 money. When he left office in January, 1989, the Federal budget was 991 billion-dollars. 

When Ronald Reagan became President in 1981, he inherited a 991 billion-dollar national debt. When he left office in 1989, we had a 3 trillion-dollar national debt. 

So Thom Hratmann is right about this. President Reagan borrowed 3 trillion-dollars as President of the United States, even though he ran as a fiscal conservative for President, both in 1976 and 80.