this post was submitted on 22 Feb 2024
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I think the way you attempt to keep Congress and the Executive separate skirts the actual way politics work even if the governmental mechanisms supports your point. In other words, there's a reason why it's called Reganonics and the Regan tax cuts. In a world without parties, I would agree with you.
Second, you don't address budget deficient and the role in the national debit. Budgets are created by the executive and then approved by the legislature. You can see that between 1981 and 1989, the budgetary deficit was greatest during Republican rule.
And relative to economic output (GDP), it was the worst between 81 and 86.
All of this is to say that the president matters in effecting the debt.
PS. Your link isn't to the Windfall Profit Tax on Oil but to Omnibus Trade and Competitiveness Act. I don't think they are the same thing, but correct me if I'm mistaken.