This comment prolly fits here.
"In 1980, Ronald Reagan won the presidency and sought to bring in a new age of fiscal austerity while also increasing the Pentagon’s budget. Supply-side economics, which essentially argued that tax cuts would pay for themselves by inducing economic growth, was just coming into vogue, and fiscally conservative dogma about tax cuts requiring budget cuts was out. The man in charge of reconciling all of Reagan’s promises was David Stockman, a former Michigan representative, whom Reagan named to lead the Office of Management and Budget. The question the new administration faced was: 'How is it possible to raise defense spending, cut income taxes, and balance the budget—all at the same time?' Part of Stockman’s education was the revelation that it was not," writes David A. Graham.
