I view the Reagan deficit as a necessary evil in order to bring about the end of Communism. Once the USSR fell and its satellites switched over, we were able to bring it under control again. (Although, in light of 9/11, some of our defence cuts can be seen as false economies.)

More importantly, though, I don't see how you can lay all the blame for it firmly at Reagan's feet when he was opposed by a Democratically-controlled Congress for both terms. Don't they have any control over the budget?