Original sentence: Critics argue that his economic policies caused huge budget deficits, quadrupling the United States national debt, and that the Iran-Contra affair lowered American credibility
Edited sentence: Critics argue that his economic policies caused huge budget deficits, quadrupling the United States national debt, hence formalising a trend to greed rather than social concern, the expansion of neo-colonial proxy wars in Central America and other countries, and that the Iran-Contra affair lowered American credibility