Maybe that first, gigantic deficit the Reaganites piled up was an accident, just a combination of deluded 'supply side' tax cuts and a huge bag of good stuff for the Pentagon. But pretty quickly conservatives discovered that deficits, when done correctly, did something really cool: deficits defunded the Left.

Summary

This quote suggests that the large deficit accumulated during the Reagan administration may have been unintentional, resulting from misguided tax cuts and increased military spending. However, conservatives eventually realized that deficits could be strategically manipulated to weaken the political influence of the Left. By creating deficits, it is implied that conservative policymakers could limit funding for progressive initiatives, thereby diminishing the effectiveness of left-leaning movements and policies.

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