Commentary
When I came to Washington, D.C., in 1985, Ronald Reagan was president. I was working for the Reagan budget office. We did something we weren’t very proud of at the time. We introduced the first $1 trillion budget in American history, which was unthinkable. One trillion dollars. There are 12 zeroes in a trillion. A trillion is a million dollars times a million. The budget deficit hit $200 billion and 6 percent of our entire GDP. Again, unthinkable.
