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Miserable and Broke in the US? Blame Reagan | Dark Dives

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Reagan's Plan to End the Cold War

During his presidency, Ronald Reagan increased the federal budget allocated to the military by about $180 billion. To pay for the increase in defense spending, the domestic economy would need to see some massive growth. But guess what happened? Well, not what Reagan wanted. His outlandish military spending ended up ballooning the American deficit and he wound up having to raise taxes to offset the economy.

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