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Between 1945 and 1980, that debt to GDP ratio went down from 120% to 30%. And it was bipartisan. Everybody thought it was a good idea. Then along comes Reagan. He's handed a debt to GDP Ratio of 30%. Now, Reagan has his reputation as a tight, fistic, conservative. No. He ran it back up again to 50%. But we won the Cold War. We won another war. In 1989, the Berlin Wall comes down in 1991,. The dissolution of the Soviet Union. Even under George W. Bush, with Iraq and everything else, it didn't go much above that. Where it exploded was Obama and Trump and Biden. They took it up to
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highlights
Listen to the best highlights from the podcasts you love and dive into the full episode