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Old 04-30-2011, 02:16 PM
 
5,114 posts, read 4,765,453 times
Reputation: 4380

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Quote:
Originally Posted by nmnita View Post
and are you going to claim that was wrong? It was the thing that saved us. Defense is expensive, but it is needed. One of the best things Reagan did was to make Americans proud of our free country.

Nita
Reagan took a step that was, shall we say, rather Keynesian.

Borrowing and spending his way out of a recession.

Whether or not it was his intention to do so, his actions still had the same effect.
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Old 04-30-2011, 02:46 PM
 
Location: Southeast
4,296 posts, read 6,360,415 times
Reputation: 1445
You all are overstating the effects of defense spending. Not only was it lower as a % of GDP than it had been in the 1960s and early 1970s, but over the course of the 1980s only created 1.2 million total jobs. And that includes everything; manufacturing, services, construction, utilities, transportation, etc. in support of defense related services. If you want to use that as an excuse to dismiss those 1.2 million jobs created between 1981 and 1990, fine. But now you need an excuse for the 20 million other jobs that were created.

Keynesians claim infrastructure and social welfare spending are the appropriate spending areas. Under Reagan, they whined and moaned that Reagan cutting those two areas would cause economic catastrophe. When the economy boomed instead, they reversed course and tried to steal credit. Ignoring of course that Keynesian policies had put the economy in a choke hold to begin with.
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Old 04-30-2011, 03:09 PM
 
Location: Unperson Everyman Land
31,617 posts, read 20,820,354 times
Reputation: 8908
Quote:
Originally Posted by Frankie117 View Post
Inflation was already an issue before the 1979 oil crisis. Even when you exclude oil and food (which are volatile and intertwined), inflation still rose sharply. The facts remain that under Reagan, we recovered from the worst post-war recession in only 8 months. We are 22 months in to recovery from the last recession with little to show for it.

If Obama had matched Reagan's pace of job growth in the first year of recovery, 5.1 million jobs would have been created in 2010 instead of less than 1 million. In September 1983, the economy produced 1.1 million jobs. That one month nearly 30 years ago beat all of 2010.



We had really taken a huge hit here in Michigan and were very happy to see those jobs come roaring back.


YouTube - 1983 - NBC News Overnight part 1
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Old 04-30-2011, 03:41 PM
 
Location: Bella Vista, Ark
73,826 posts, read 86,279,759 times
Reputation: 44236
Quote:
Originally Posted by djmilf View Post
Reagan took a step that was, shall we say, rather Keynesian.

Borrowing and spending his way out of a recession.

Whether or not it was his intention to do so, his actions still had the same effect.
have you spun this enough to make you a little dizzy?


Nita
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Old 04-30-2011, 03:53 PM
 
27,890 posts, read 35,048,653 times
Reputation: 4035
Quote:
Originally Posted by djmilf View Post
Reagan took a step that was, shall we say, rather Keynesian.

Borrowing and spending his way out of a recession.

Whether or not it was his intention to do so, his actions still had the same effect.

If Reagan went Keynesian, and spent out the wazoo, and that's what caused the recovery, what did all that do to the already high inflation?

Quote:
There should be no release
of this statement
before its delivery,
scheduled for 1:30 p.m.
(E . S.T), Tuesday,
March 31, 1981.

Mr. Chairman, during the last few years the U.S. economy has
performed very poorly, frustrating serious attempts by the Congress
to reduce the growth of federal spending and to move away from
chronic budget deficits. In 1980 a combination of near record
inflation, high unemployment, lagging productivity, and record high
interest rates battered the economy. In the spring, we experienced
a sharp, though brief, decline in output—the seventh recession
since World War II. It increased unemployment and the amount of
unused capacity, but did little, if anything, to ease inflation.
Moreover, the upturn in economic activity in the second half of the
year drove interest rates to new record highs, raising doubts about
whether the recovery would be sustained.
http://www.cbo.gov/ftpdocs/102xx/doc10221/81doc19.pdf
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Old 04-30-2011, 03:55 PM
 
Location: Chicagoland
41,313 posts, read 40,265,802 times
Reputation: 7107
Quote:
Originally Posted by nmnita View Post
Christine, maybe there isn't in NO VA, 1/2 of the people are employed by the goernment, we used to live there in the 80s.

Here in NWA we are not suffering job losses either, but the cost of food and fuel has gone up everywhere and yes, it will hit even VA before long if something isn't done. Are you going to tell us property values have not gone down in VA? I think not. That is part of the problem.

Nita
The DC area is thriving I hear. Now, why would that be? Because it is around the seat of government and must accommodate the expansion of the fed by obama.
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Old 04-30-2011, 07:59 PM
 
Location: OCEAN BREEZES AND VIEWS SAN CLEMENTE
19,895 posts, read 16,239,224 times
Reputation: 6455
Quote:
Originally Posted by Toyman at Jewel Lake View Post
$5.00 a gallon gas and $6.00 diesel will do that anyway. I don't see any way we won't have a double dip recession in the next few months, if fuel prices keep going this way.
Last nite on cable news, they said this summer get ready for $5-6 gallon gas. This is just sick, and who in the hell will be able to afford to drive. Something has got to give. I don't see our economy growing better, i see it going downhill, and this is not the change i expected from someone who promised us YES WE CAN!
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Old 04-30-2011, 08:34 PM
 
Location: Chicagoland
41,313 posts, read 40,265,802 times
Reputation: 7107
Quote:
Originally Posted by djmilf View Post
Reagan took a step that was, shall we say, rather Keynesian.

Borrowing and spending his way out of a recession.

Whether or not it was his intention to do so, his actions still had the same effect.
When will you get history right?

The democrats, who controlled congress at the time, FAILED to implement the spending cuts they had promised.
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Old 04-30-2011, 08:40 PM
 
19,215 posts, read 13,295,271 times
Reputation: 2337
Quote:
Originally Posted by momonkey View Post
81-82?

You mean right after Carter put the WPT in place, domestic oil production collapsed, imports increased and gasoline reached an inflation adjusted $3.50/gal?

"Unless we tax the oil companies, they will reap huge and undeserved windfall profits,"

- Jimmy Carter

Sound familiar?

Thanks Jimmy! Without you and your new tax domestic oil production wouldn't hit a twenty year low.

Good thing we had Reagan to fix that crap.

Wasn't Carter a victim of Nixon's sell-out?
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