Everybody reading this thread pay very close attention to this statement. It contains two basic flaws.
It takes a “very special mind” to contradict the statement that money is a finite quantity.
The absurdity of the other revisionist (as in “when Jimmy Carter was President, a small national debt was horrible, but when Ronald Reagan was President, a huge national debt was okey-dokey”) arguments are at the same level.
Note also I was talking about the government’s money, not the whole money supply in general. It is quite senseless to attack someone on an issue they were not at all talking about. But in any case, neither the goverment or American society has an infinite amount of money!
We had a good run in the '90s. We didn’t have a great run. We only mangaged to partially make up for the damage from the “double recession” of the early 80’s and the later Bush “slowdown”. Core numbers on poverty and inner city employment got better, but not back to previous levels. (I don’t count how the rich do as a viable economic indicator, in fact it correlates as a negative.) You can’t have a strong long term economy when the number of lower class people is increasing. They make really lousy consumers.