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We tend to forget that Ronald Reagan in 1980 inherited an economic mess arguably as bad as that inherited by Pres Barack Obama. I am old enough to remember it. Like today, I heard lots of accounts of guys with graduate degrees driving cabs and working at restaurants. When Reagan took office in Jan '81, unemployment was 7.5% and rising. There was double digit inflation, and 20% interest rates. GDP "growth" was actually negative.
Reagan promised and delivered a set of remedies guided by conservative/free market ideology. Unemployment continued to go up, but by 1983, as his policies started to kick in, it went down and reached 5.3 percent in his last full month in office. GDP grew at a healthy 4.3% in 1983, and zoomed to over 7% in 1984. Reaganomics had proven to be a success by 1984, and Reagan was re-elected in a landslide, losing only 1 state plus DC.
Similarly Pres. Obama inherited an economic mess. His prescription was a stark contrast to Reagan's. He prescribed a 'stimulus'package (i.e. massive gov't spending), welfare benefits, higher taxes, unemployment benefits etc.--all the classic liberal ideas. Six years later we have somewhat stabilized, but we still clearly have a problem in generating jobs and growth. GDP growth last year was an anemic 1.9%. What jobs are being created are overwhelmingly (approx. 75%) part time. WASHINGTON: Most 2013 job growth is in part-time work, survey suggests | Economy | McClatchy DC
This was a kind of lab experiment, and the result seems pretty clear.
You are trying to compare apples to cars. Reagen was able to get the coperation from both parties in both Houses and they were at least cordial towards one another. This abomination to sanity that we have now were plotting to unsurp him BEFORE he even got into the Oval office and have been fighting against EVERYTHING that he has done ever since, even if it would help the country or not!
You are trying to compare apples to cars. Reagen was able to get the coperation from both parties in both Houses and they were at least cordial towards one another. This abomination to sanity that we have now were plotting to unsurp him BEFORE he even got into the Oval office and have been fighting against EVERYTHING that he has done ever since, even if it would help the country or not!
They don't want him to appear to be succeeding at what they have been failing miserably for centuries, being so much more intelligent and experienced than he.
You are trying to compare apples to cars. Reagen was able to get the coperation from both parties in both Houses and they were at least cordial towards one another. This abomination to sanity that we have now were plotting to unsurp him BEFORE he even got into the Oval office and have been fighting against EVERYTHING that he has done ever since, even if it would help the country or not!
Obama didnt need to get cooperation from both parties, he had everything he wanted for years..
Are you telling me Reagan was more skilled and better equipped for the job than Obama was? I agree..
We tend to forget that Ronald Reagan in 1980 inherited an economic mess arguably as bad as that inherited by Pres Barack Obama. I am old enough to remember it. Like today, I heard lots of accounts of guys with graduate degrees driving cabs and working at restaurants. When Reagan took office in Jan '81, unemployment was 7.5% and rising. There was double digit inflation, and 20% interest rates. GDP "growth" was actually negative.
Reagan promised and delivered a set of remedies guided by conservative/free market ideology. Unemployment continued to go up, but by 1983, as his policies started to kick in, it went down and reached 5.3 percent in his last full month in office. GDP grew at a healthy 4.3% in 1983, and zoomed to over 7% in 1984. Reaganomics had proven to be a success by 1984, and Reagan was re-elected in a landslide, losing only 1 state plus DC.
Similarly Pres. Obama inherited an economic mess. His prescription was a stark contrast to Reagan's. He prescribed a 'timulus'package (i.e. massive gov't spending), welfare benefits, higher taxes, unemployment benefits etc.--all the classic liberal ideas. Six years later we have somewhat stabilized, but we still clearly have a problem in generating jobs and growth. GDP growth last year was an anemic 1.9%. What jobs are being created are overwhelmingly (approx. 75%) part time. WASHINGTON: Most 2013 job growth is in part-time work, survey suggests | Economy | McClatchy DC
This was a kind of lab experiment, and the result seems pretty clear.
Volcker has been given credit because he imposed the high interest rates which tightened the money supply. Also the deregulations which started with the Carter administration Reagan sped up.
It's time people started to be honest. Reagan wasn't horrible but he was no conservative.
This recession is nothing like 1980. There was no collapse in housing prices.
The collapse ceased before Obama spend a DIME...
Try a better argument..
The fact that things fell so hard, is an indication as to the failure of Obama. Things should be rebounding so fast that by now, they should be trying to slow the economy down, not still trying to speed it up.
You are trying to compare apples to cars. Reagen was able to get the coperation from both parties in both Houses and they were at least cordial towards one another. This abomination to sanity that we have now were plotting to unsurp him BEFORE he even got into the Oval office and have been fighting against EVERYTHING that he has done ever since, even if it would help the country or not!
There was a grand plan by the Republicans to make sure that Obama was a one-term president and they were the architects of a scheme to drag the whole country down
You are trying to compare apples to cars. Reagen was able to get the coperation from both parties in both Houses and they were at least cordial towards one another. This abomination to sanity that we have now were plotting to unsurp him BEFORE he even got into the Oval office and have been fighting against EVERYTHING that he has done ever since, even if it would help the country or not!
There were only 3 presidents whose vetoes were overridden more than Reagan's and that was:
Andrew Johnson - 15
Truman - 12
Ford - 12
Reagan's vetoes were overridden 9 times tied only by FDR.
Yet Reagan still worked with O'Neill to pass what he wanted by giving concessions to congressional democrats.
Compare that with Obama who knew he couldn't run on his record since it didn't exist and couldn't run on his true intentions since they weren't popular. Instead, Obama ran against congressional republicans even when he had nearly all of congress and the presidency.
Obama sucks plain and simple and he isn't at all what was sold to the country when he was catapulted to the presidency via his skin color and "coolness" factor.
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Reagan's inherited economic mess vs. Obama's
