This guy gets it
This was a very thoughtful comment to a very nice Vanity Fair article WW2 spending and debt brought us out of the Great Depression and won WW2. Spending increased to ~35% of the economy and the federal debt was ~122% of the economy at the end of the war. The debt had been reduced to 33% when Reagan was inaugurated; the debt doubled as a percentage of the economy under Reagan and Bush I as federal spending was between 22 and 25% of the economy, after being under 20% from 1946 to 1980. Reagan also started the deregulation of the banking industry