17 months is all it took

[naturegirl]

It took Reagan 17 months to straighten out Jimmy Carter's mess he left. Unemployment actually rose during the first months of his presidency to over 10% (sound familiar?) Inflation jumped to 13.5%

Bill Clinton lied last night saying no other president faced what Obama was facing. Reagan's was just as bad if not worse.

When Reagan took office the economy was one of the double-digit inflation and high interest rates. During the campaign Reagan promised to restore the free market from excessive government regulation and encourage private initiative and enterprise.

Reagan's economic policies came to be known as "Reaganomics," an attempt, according to Lou Cannon, to "balance the federal budget, increase defense spending, and cut income taxes." The President vowed to protect entitlement programs (such as Medicare and Social Security) while cutting the outlays for social programs by targeting "waste, fraud and abuse." Reagan embraced the theory of "supply side economics," which postulated that tax cuts encouraged economic expansion which in turn increased the government's revenue at a lower tax rate.

During his first year in office, Reagan engineered the passage of $39 billion in budget cuts into law, as well as a massive 25 percent tax cut spread over three years for individual, and faster write-offs for capital investment for business. At the same time, he insisted on, and for the most part, was successful in gaining increased funding for defense.

Although inflation dropped from 13.5% in 1980 to 5.1% in 1982, a severe recession set in, with unemployment exceeding 10% in October, 1982 for the first time in forty years. The administration modified its economic policy after two years by proposing selected tax increases and budget cuts to control rising deficits and higher interest rates. After the 1982 downturn, the reduced inflation rate (under 5% for the remainder of the administration) sparked record economic growth, and produced one of the lowest unemployment rates in modern U.S. history (unemployment hit a 14 year low in June of 1988). As Reagan left office, the nation was experiencing its sixth consecutive year of economic prosperity.

The economic gains, however, came at a cost of a record annual deficit and a ballooning national debt. The budget deficit was exacerbated by a trade deficit. Americans continued to buy more foreign-made goods than they were selling. Reagan, however adhered to his free trade stance, and signed an agreement to that effect with Canada. He also signed, reluctantly, trade legislation designed to open foreign markets to U.S. goods.

Ronald Reagan Presidential Library, National Archives and Records Administration

Reaganomics - Wikipedia, the free encyclopedia

 

[naturegirl]

More from another link.

When Obama was sworn in the economy was in recession (GDP: -0.3 in 2008 and -3.5 in 2009), but the recession had bottomed out by the second quarter of 2009 before his "stimulus" took effect. The unemployment rate reached 10.8 percent in the 1982 recession, but only 10 percent in the 2009 recession. When Reagan reached the Oval Office the inflation rate was 12 percent. In contrast, when Obama assumed office, the inflation rate was zero percent.

Reagan was faced with the problems of slaying the dragon of inflation and reviving economic growth. Obama only had to revive economic growth.

Reagan Succeeded Where Obama Failed

 

[blastoff]

Bill Clinton lied (again)? How come? There weren't any babes involved this time as far as I know.

 

[naturegirl]

Bill Clinton lied (again)? How come? There weren't any babes involved this time as far as I know.

Sandra Fluke was there and Hillary was out of the country.

 

[rightwinger]

Reagan was allowed to triple the debt to force a recovery. He did not have to contend with massive layoffs in the public sector while he was trying to cut the unemployment rate

 

[Saigon]

And here was me thinking Reagan never submitted a balanced budget....

 

[Meister]

Reagan was allowed to triple the debt to force a recovery. He did not have to contend with massive layoffs in the public sector while he was trying to cut the unemployment rate

Would you give a monetary amount (including inflation) that Reagan spent over his 8 years and compare that to what Obama has spent in 3+ years?
I'll be waiting, Leftwinger.

 

[Dick Tuck]

It took Reagan 17 months to straighten out Jimmy Carter's mess he left. Unemployment actually rose during the first months of his presidency to over 10% (sound familiar?) Inflation jumped to 13.5%

For fucks sake, are you really this ignorant of the 1980 recession? It was a planned recession. Carter appointed Volker to impose monetary policy to bring down inflation. Volker did just that. He tightened up money to the point that no corporation could borrow its way out of the inflation spiral.

Reagan, blamed Carter for the problem, but actually kept Volker's policy in place, and even reappointed him.

Carter did what was right for America, and took the political hits for it. Reagan kept the policy and blamed others. Carter showed leadership. He put our Nation above his personal political ambition.

 

[naturegirl]

Reagan was allowed to triple the debt to force a recovery. He did not have to contend with massive layoffs in the public sector while he was trying to cut the unemployment rate

Ummm unemployment was 7.8% when Reagan took office, it balooned to 10.8%, higher than Obama's. He also had to deal with a 13% inflation rate. Obama's was zero.

Obama had no clue what to do, he still doesn't. Oh and didn't Obama alos increase the debt by a bunch???

Obama's policies have failed.

 

[naturegirl]

It took Reagan 17 months to straighten out Jimmy Carter's mess he left. Unemployment actually rose during the first months of his presidency to over 10% (sound familiar?) Inflation jumped to 13.5%

For fucks sake, are you really this ignorant of the 1980 recession? It was a planned recession. Carter appointed Volker to impose monetary policy to bring down inflation. Volker did just that. He tightened up money to the point that no corporation could borrow its way out of the inflation spiral.

Reagan, blamed Carter for the problem, but actually kept Volker's policy in place, and even reappointed him.

Carter did what was right for America, and took the political hits for it. Reagan kept the policy and blamed others. Carter showed leadership. He put our Nation above his personal political ambition.

Link??

 

[Sinjorri]

It took Reagan 17 months to straighten out Jimmy Carter's mess he left. Unemployment actually rose during the first months of his presidency to over 10% (sound familiar?) Inflation jumped to 13.5%

For fucks sake, are you really this ignorant of the 1980 recession? It was a planned recession. Carter appointed Volker to impose monetary policy to bring down inflation. Volker did just that. He tightened up money to the point that no corporation could borrow its way out of the inflation spiral.

Reagan, blamed Carter for the problem, but actually kept Volker's policy in place, and even reappointed him.

Carter did what was right for America, and took the political hits for it. Reagan kept the policy and blamed others. Carter showed leadership. He put our Nation above his personal political ambition.

cept teh Volker stuff you made me spit juice on my monitor i was laughing so hard.

 

[Meister]

It took Reagan 17 months to straighten out Jimmy Carter's mess he left. Unemployment actually rose during the first months of his presidency to over 10% (sound familiar?) Inflation jumped to 13.5%

For fucks sake, are you really this ignorant of the 1980 recession? It was a planned recession. Carter appointed Volker to impose monetary policy to bring down inflation. Volker did just that. He tightened up money to the point that no corporation could borrow its way out of the inflation spiral.

Reagan, blamed Carter for the problem, but actually kept Volker's policy in place, and even reappointed him.

Carter did what was right for America, and took the political hits for it. Reagan kept the policy and blamed others. Carter showed leadership. He put our Nation above his personal political ambition.

Wow! Not even most democrats would buy in to what you're selling, Dick. Only the wingnuts.

 

[SniperFire]

Reagan was allowed to triple the debt to force a recovery. He did not have to contend with massive layoffs in the public sector while he was trying to cut the unemployment rate

Revise history, much?

'In February 1981 Reagan presented the Economic Tax Recovery Act to Congress, calling for massive personal and corporate tax cuts, reductions in government spending, and a balanced budget.'

The 1982 Recession . Reagan . WGBH American Experience | PBS


It wasn't Reagan who wanted nothing to do with a balanced budget, was it?


Then again, you live the Liberal Lie.

 

[Oddball]

It took Reagan 17 months to straighten out Jimmy Carter's mess he left. Unemployment actually rose during the first months of his presidency to over 10% (sound familiar?) Inflation jumped to 13.5%

For fucks sake, are you really this ignorant of the 1980 recession? It was a planned recession. Carter appointed Volker to impose monetary policy to bring down inflation. Volker did just that. He tightened up money to the point that no corporation could borrow its way out of the inflation spiral.

Reagan, blamed Carter for the problem, but actually kept Volker's policy in place, and even reappointed him.

Carter did what was right for America, and took the political hits for it. Reagan kept the policy and blamed others. Carter showed leadership. He put our Nation above his personal political ambition.

12+% inflation was "bringing it down"?

Holy smokes!

 

[Luddly Neddite]

Gosh, you historical revisionists really make me nostalgic for the Reagan gas shortages, the job losses, the enormous increase in the deficit.

Reagan put us deeper in debt than all other presidents combined.

And then he left for another vacation.

 

[BreezeWood]

It took Reagan 17 months to straighten out Jimmy Carter's mess he left. Unemployment actually rose during the first months of his presidency to over 10% (sound familiar?) Inflation jumped to 13.5%

Bill Clinton lied last night saying no other president faced what Obama was facing. Reagan's was just as bad if not worse.

the Great Republican Recession lasted from Dec. 07 to June 09 - 18 months. The 07-09 recession was the deepest since the 1930s Great Depression and was curtailed with less than 3% inflation and unemployment was never higher than 9.6% ...

so what is the point of this Thread ???

 

[buckeye45_73]

Gosh, you historical revisionists really make me nostalgic for the Reagan gas shortages, the job losses, the enormous increase in the deficit.

Reagan put us deeper in debt than all other presidents combined.

And then he left for another vacation.

No we were there when he put Americans back to work, strenghtened the US economny and military and increased our standing in the world. Yeah he was terrible, man you are a dumbass libtard.
What was Reagans biggest mistake? Beirut and Arms for Hostages, which if we didnt have the pussy liberal thinking of keeping unarmed soldiers guarding barracks, beirut wouldnt have happend and as for Arms for hostages, a bad policy to conservatives, but I'm suprised liberals didnt like it....oh wait they would have if he had a D by his name

 

[naturegirl]

It took Reagan 17 months to straighten out Jimmy Carter's mess he left. Unemployment actually rose during the first months of his presidency to over 10% (sound familiar?) Inflation jumped to 13.5%

Bill Clinton lied last night saying no other president faced what Obama was facing. Reagan's was just as bad if not worse.

the Great Republican Recession lasted from Dec. 07 to June 09 - 18 months. The 07-09 recession was the deepest since the 1930s Great Depression and was curtailed with less than 3% inflation and unemployment was never higher than 9.6% ...

so what is the point of this Thread ???

So you're saying Reagan's recession wasn't as deep as Obama's with higher unemployment and run away inflation?? Within 17 months Reagan had unemployment at 6%, and it continued to fall.

By the Numbers: The Economy Under Reagan vs. Obama

The point of this thread is to show you you're being lied to by this administration and Bill Clinton.

 

[koshergrl]

As far as I can see this thread exists to expose what dishonest douchewads lefties are.

 

[naturegirl]

Reagan's inherited recession was worse than Obama's but the left believes the lies. I remember Carter's days, 13-16% interest to buy a house, gas lines an hour long, no jobs.

The "slow" recovery is a result of Obama's inexperience and an agenda that doesn't include job growth, just expanding the government.

Check again and see how much Reagan cut government.