I urge everyone to get Alan Greenspan's book 'Age of Turbulence' from your local library.
Let's explore Reagan's fiscal policy.
On page 102, of the aforementioned book, we have the following tidbit of Greenspan's thoughts at the end of 1988.
"The economic indicators, meanwhile, were far from encouraging. Huge government deficits under Reagan had caused the national debt to the public to almost triple, from just under $700 billion at the start of his presidency to more than $2 trillion at the end of fiscal year 1988. The dollar was falling, and people were worried about America losing its competitive edge."