17 months is all it took

[koshergrl]

Obamacare is a Reagan plan...

BWAHAHAHAHAHAHAHAHAHAHAAAA

 

[lukelk]

Obamacare is a Reagan plan...

BWAHAHAHAHAHAHAHAHAHAHAAAA

the truth hurts doesnt it.

 

[JakeStarkey]

If they are saying he fixed the economy in the seventeen months after his inaugural, then they are wrong.

UE was 10.8 in October 1983 (34th month of his presidenc).

Tough, you fail.

Nope, you get to ask for nothing, because I was responding to naturegirl's incorrect information.

You have nothing to add.

Sweetie, my links are in my first post. You have nothing, you're full of crap!!

I lived through Carter, in fact he was the last Dem I voted for. I didn't live in Georgia then, I actually lived in Chicago.

 

[koshergrl]

^^^^dishonest vapidity on parade^^^^

 

[Star]

After 36 months of failed Friedman programs, Reagan finally gave in to tax revenues and increased defense spending. Worked.

Huh, did what in 17 months?
I think naturegirl's a lefty plant whose job it is, to make extremist Republicans look stupid, ehem----- Mission Accomplished!

More jobs were created during Jimmy Carter's presidential term than any other presidential term up to that point in history, so-------so when President TrickleDown took over the office of the presidency the unemployment rate was only 7.1%. But by 1984 the unemployment rate had increased to 7.5%. By the time the mid-term election of 1986 rolled around the unemployment rate was 7.0%. 17 months - WTF?

Reagan raised taxes/revenue + increased government spending + increased the federal payroll from 4.965 million to 5.292 million + state and local public employment increased by almost 1.7 million --- only then did Reagan leave office with 5.3% unemployment.

Check it out
V
V
Annual average unemployment rate, civilian labor force 16 years and over (percent)

Last Modified Date: March 9, 2012

 

[Meister]

After 36 months of failed Friedman programs, Reagan finally gave in to tax revenues and increased defense spending. Worked.

Huh, did what in 17 months?
I think naturegirl's a lefty plant whose job it is, to make extremist Republicans look stupid, ehem----- Mission Accomplished!

More jobs were created during Jimmy Carter's presidential term than any other presidential term up to that point in history, so-------so when President TrickleDown took over the office of the presidency the unemployment rate was only 7.1%. But by 1984 the unemployment rate had increased to 7.5%. By the time the mid-term election of 1986 rolled around the unemployment rate was 7.0%. 17 months - WTF?

Reagan raised taxes/revenue + increased government spending + increased the federal payroll from 4.965 million to 5.292 million + state and local public employment increased by almost 1.7 million --- only then did Reagan leave office with 5.3% unemployment.

Check it out
V
V
Annual average unemployment rate, civilian labor force 16 years and over (percent)

Last Modified Date: March 9, 2012

The slowest most anemic recovery since WWII, the longest sustained unemployment over 8% in 70 years. Obama is really humming along showing you what his brand of ideology produces.

 

[Old Rocks]

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.

Ah Snippy you are such a sad sack of a little liar.

National Debt Graph by President

 

[Old Rocks]

After 36 months of failed Friedman programs, Reagan finally gave in to tax revenues and increased defense spending. Worked.

Huh, did what in 17 months?
I think naturegirl's a lefty plant whose job it is, to make extremist Republicans look stupid, ehem----- Mission Accomplished!

More jobs were created during Jimmy Carter's presidential term than any other presidential term up to that point in history, so-------so when President TrickleDown took over the office of the presidency the unemployment rate was only 7.1%. But by 1984 the unemployment rate had increased to 7.5%. By the time the mid-term election of 1986 rolled around the unemployment rate was 7.0%. 17 months - WTF?

Reagan raised taxes/revenue + increased government spending + increased the federal payroll from 4.965 million to 5.292 million + state and local public employment increased by almost 1.7 million --- only then did Reagan leave office with 5.3% unemployment.

Check it out
V
V
Annual average unemployment rate, civilian labor force 16 years and over (percent)

Last Modified Date: March 9, 2012

The slowest most anemic recovery since WWII, the longest sustained unemployment over 8% in 70 years. Obama is really humming along showing you what his brand of ideology produces.

So you want to go back to the GOP economy? Remember January 2001? 750,000 jobs a month going down the drain. The stock market at half it's previous value. That is what the GOP policies gave us, and then the fools want to double down on trickle down again.

 

[Old Rocks]

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.

Percentage wise Reagan more than doubled the debt.
And we turned into a debtor nation.

From 900 billion to 2.8 trillion. More than three times.

 

[rdean]

The so called "Reagan Legacy" is pure fabrication.

This pretty much sums it up:

http://www.nytimes.com/2005/05/22/books/review/22SHESOLL.html?pagewanted=all

Still, Reagan's intellectual rehabilitation can go only so far. It's true that he displays none of the ostentatious anti-intellectualism so prevalent in his party, from Spiro Agnew to George W. Bush. Yet he shows no great passion for ideas, either, beyond their utility. There is no sense of struggle in his writings, no careful weighing of views, no perceptible self-doubt -- none of the typical markers of a searching mind. Reagan does not ruminate so much as proselytize. In a letter from 1977, replying to a woman who has accused him of having a ''closed mind,'' Reagan offers charm, statistics and a predictable swipe at ''projects by bureaucrats which will further erode our freedom.'' (pretty sure he was talking about "Social Security")

 

[Meister]

Huh, did what in 17 months?
I think naturegirl's a lefty plant whose job it is, to make extremist Republicans look stupid, ehem----- Mission Accomplished!

More jobs were created during Jimmy Carter's presidential term than any other presidential term up to that point in history, so-------so when President TrickleDown took over the office of the presidency the unemployment rate was only 7.1%. But by 1984 the unemployment rate had increased to 7.5%. By the time the mid-term election of 1986 rolled around the unemployment rate was 7.0%. 17 months - WTF?

Reagan raised taxes/revenue + increased government spending + increased the federal payroll from 4.965 million to 5.292 million + state and local public employment increased by almost 1.7 million --- only then did Reagan leave office with 5.3% unemployment.

Check it out
V
V
Annual average unemployment rate, civilian labor force 16 years and over (percent)

Last Modified Date: March 9, 2012

The slowest most anemic recovery since WWII, the longest sustained unemployment over 8% in 70 years. Obama is really humming along showing you what his brand of ideology produces.

So you want to go back to the GOP economy? Remember January 2001? 750,000 jobs a month going down the drain. The stock market at half it's previous value. That is what the GOP policies gave us, and then the fools want to double down on trickle down again.

January 2001? Hell, Bush just got into office.

But if you're talking about 2008, the dems controlled Congress and the Senate, Rocks.
A big problem I had with Bush was he didn't know how to use the veto function. But I put blame on the dems and the republicans for that mess

 

[Bigfoot]

Nope, you get to ask for nothing, because I was responding to naturegirl's incorrect information.

You have nothing to add.

Meaning you don't know shit about shit and are simply content to lie.

You are dismissed kid.

That is a real good description of JakeStarkey.

 

[Meister]

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.

Percentage wise Reagan more than doubled the debt.
And we turned into a debtor nation.

From 900 billion to 2.8 trillion. More than three times.

An increase of 1.9 trillion in 8 years? How will you ever spin the 5 trillion for Obama in 3+ years?

 

[JakeStarkey]

Yup, RR raised the deficit 17 times, raised taxes three times, had an UE of 10.8% in October 1983, and kissed Gorby's ass in Russia.

All true, Bigfoot. You and the others are simply stooges for failed far right reactionary economics.

Nope, you get to ask for nothing, because I was responding to naturegirl's incorrect information.

You have nothing to add.

Meaning you don't know shit about shit and are simply content to lie.

You are dismissed kid.

That is a real good description of JakeStarkey.

 

[Erand7899]

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

Reagan added about $1.5 Trillion to the national debt in eight years, after successfully fixing a very broken economy. He inherited a recession, with double digit inflation and double digit interest rates. He fixed the first recession, but then had to endure the FED pushing the economy back into recession to squeeze out inflation. That recession caused unemployment to hit 10.6%, but it was down below 6% when he turned the office over to Bush, along with a strong and growing economy.

BTW, Clinton also added about $1.5 trillion to the national debt, and he had no recession, reasonable interest rates and no inflation to cope with. And, that was after his huge tax increases of 1993.

 

[Erand7899]

Reagan's recession was tough but not as tough as this one. I have been through both as well as the oil embargos. The bushies' wild west escapades domestically and internationally damn near broke the country. Obama has managed to not destroy the country but that is not enough. Romney is going to have to turn it around, or he will be a one-term president, and if he is, the changing demographics in our county will make the last Republican president in American history.

Sweetie, this one is harder because Washington has no clue how to end it. My stats didn't fail, Reagan fixed a worse economy in 17 months.

Your stats lie by giving Reagan credit for the recovery. As I showed to you, Reagan had nothing to do with it. The Fed created the recession to tame the inflation, then the Fed turned it off.

And -- this is ironic -- those policies ultimately caused the depression we have now. Too low an inflation left the Fed powerless to stop it. That is why Obama had to come up with emergency measures, like the stimulus, only to stop the economic downfall. It was not enough to make the economy recover all the lost ground, and Republicans are at fault for blocking any further measures, like providing aid to the states, so they don't have to layoff teachers and firefighters.

Republicans were also bullying the Fed, trying to block its attempts to help the recovery.

You are about half right. The Fed did initiate the 1983 recession to squeeze out inflation, but they had no way of just turning it off. And, it didn't have a damn thing to do with the mess we are now in. The recession ended in June 2009. Obama has screwed up the recovery by inserting so much uncertainty in taxes and regulation, that no one with money has the desire to risk that money in this economy.

Investors and bussinesses are holding back to see what the costs of doing business will be next year. No one yet knows what Obamacare will cost individuals or companies. No one knows what the marginal tax rates will be, and no one has any idea of what some of these new regulations will cost.

 

[NYcarbineer]

Percentage wise Reagan more than doubled the debt.
And we turned into a debtor nation.

From 900 billion to 2.8 trillion. More than three times.

An increase of 1.9 trillion in 8 years? How will you ever spin the 5 trillion for Obama in 3+ years?

You can start by noting the 200 billion or so a year that has to be paid in interest on debt that Obama had nothing to do with. Debt that was accumulated mostly by Reagan, Bush, and Bush.

 

[NYcarbineer]

17 months into Reagan's 1st term, the nation was in recession and

unemployment was at 9.4% and would be there or above for another 15 months.

What was it that Reagan accomplished in 17 months?

Portal Seven | Unemployment Rate - US

 

[Dr Grump]

After 36 months of failed Friedman programs, Reagan finally gave in to tax revenues and increased defense spending. Worked.

Huh, did what in 17 months?
I think naturegirl's a lefty plant whose job it is, to make extremist Republicans look stupid, ehem----- Mission Accomplished!

More jobs were created during Jimmy Carter's presidential term than any other presidential term up to that point in history, so-------so when President TrickleDown took over the office of the presidency the unemployment rate was only 7.1%. But by 1984 the unemployment rate had increased to 7.5%. By the time the mid-term election of 1986 rolled around the unemployment rate was 7.0%. 17 months - WTF?

Reagan raised taxes/revenue + increased government spending + increased the federal payroll from 4.965 million to 5.292 million + state and local public employment increased by almost 1.7 million --- only then did Reagan leave office with 5.3% unemployment.

Check it out
V
V
Annual average unemployment rate, civilian labor force 16 years and over (percent)

Last Modified Date: March 9, 2012

The slowest most anemic recovery since WWII, the longest sustained unemployment over 8% in 70 years. Obama is really humming along showing you what his brand of ideology produces.

If you think this is Obama's fault you don't have a clue...

...oh, that's right

Carry on...

 

[Star]

After 36 months of failed Friedman programs, Reagan finally gave in to tax revenues and increased defense spending. Worked.

Huh, did what in 17 months?
I think naturegirl's a lefty plant whose job it is, to make extremist Republicans look stupid, ehem----- Mission Accomplished!

More jobs were created during Jimmy Carter's presidential term than any other presidential term up to that point in history, so-------so when President TrickleDown took over the office of the presidency the unemployment rate was only 7.1%. But by 1984 the unemployment rate had increased to 7.5%. By the time the mid-term election of 1986 rolled around the unemployment rate was 7.0%. 17 months - WTF?

Reagan raised taxes/revenue + increased government spending + increased the federal payroll from 4.965 million to 5.292 million + state and local public employment increased by almost 1.7 million --- only then did Reagan leave office with 5.3% unemployment.

Check it out
V
V
Annual average unemployment rate, civilian labor force 16 years and over (percent)

Last Modified Date: March 9, 2012

The slowest most anemic recovery since WWII, the longest sustained unemployment over 8% in 70 years. Obama is really humming along showing you what his brand of ideology produces.

Thanks to naturegirl -- in post #18 on this thread naturegirl posted a link to an article that debunks virtually everything the extremist Republicans are claiming when comparing Reagan's first three years to Obama's first three years. Contained in naturegirls article is this paragraph;

"Yet the facts do not support such rhetoric; Romney and other conservative politicos are absolutely off the mark. If we compare Barack Obama’s first term to conservative icon Ronald Reagan’s first term, the Obama administration outperforms Reagan’s on most key economic measures."

and this paragraph;

"Barack Obama surpasses his 13 predecessors, including Bill Clinton and Ronald Reagan, relative to the stewardship of our financial markets and most economic indicators. The average annual compound returns for the Dow, S&P500, and NASDAQ have been 17.2%, 25.3% and 31.7% respectively in Obama’s first 3.3 years. This compares to Reagan’s first term results (for the same indices and time period) of 6.86%, 6.16%, and 7.02% respectively."


Thanks for the link naturegirl -- are you a lefty plant?




By the Numbers: The Economy Under Reagan vs. Obama


June 26, 2012
Bob Deitrick


Many conservative economic pundits, including Republican nominee Mitt Romney, have been staking the claim that the Obama Presidency has been an economic calamity.

Standing in front of a closed gypsum plant in Lorain, Ohio back in April, Mitt Romney asserted, “had the president’s economic plans worked … it would be open by now, but it’s still empty, and it underscores the failure of this president’s policies with regards to getting this economy going again.”

Yet the facts do not support such rhetoric; Romney and other conservative politicos are absolutely off the mark. If we compare Barack Obama’s first term to conservative icon Ronald Reagan’s first term, the Obama administration outperforms Reagan’s on most key economic measures.

Many Americans are too young to remember, or perhaps have forgotten, how frenetic President Reagan’s first term was.

Reagan, like Obama, inherited an economic mess from his predecessor (Carter), and was so beleaguered by the economy that as late as August of 1983, when unemployment stood at 9.5%, he did not believe he would be re-elected. Reagan’s objective was to implement his theory of “Reaganomics,” which was based on stimulating the economy with tax cuts, tax credits and accelerated depreciation (supply-side economics).

Reagan’s primary catalyst to achieve this objective was the passage of the Economic Recovery Tax Act (ERTA) in July of 1981, which introduced phased-in reductions in marginal tax rates that were substantial. ERTA was however a “bridge too far” and failed miserably creating massive budget deficits and weakening the economy, culminating in a severe recession which lasted through 1982.

Luckily Reagan saw his error, and with the passage of TEFRA (Tax Equity and Fiscal Responsibility Act) in September of ‘82, the economy began to get its footing back. TEFRA became the remedy to ERTA. In fact, TEFRA wasthe largest peacetime tax increase ever signed into law by any of our presidents, and ironically it was a Republican, Ronald Reagan,who signed it into law.

TEFRA kicked off one of the most substantive bull cycles in our financial history: one that endured for more than five years. Reagan deserves credit for backing TEFRA and for its powerful economic result. However, few realize it was Democrat Pete Stark of California who sponsored TEFRA. Had it not been for Reagan’s pragmatism and ability to work across the aisle with Democrats like Stark, Speaker of the House Tip O’Neill, and other members of Congress, TEFRA would not have happened and Reagan would likely have been a one-term president.

Barack Obama inherited the worst economic disaster of any president since FDR acquired the debacle from Hoover as he entered the White House in 1933. One of Obama’s first acts as President was to sign the American Recovery and Reinvestment Act. The ‘Stimulus,’ as it is called, established a floor for the financial markets so they wouldn’t decline further. Many forget that in the last 17 months of George W’s tenure, the stock market saw an historical loss of 58% from peak to trough. This was worse than any rolling 17-month period during the Great Depression.

Under President Obama’s tenure, to date, we have seen an impressive recovery in the equity markets,making up most of the losses accrued under Bush. Today we stand only 877 points from the highpoint of the DOW of 14,156.53 set on October 9th, 2007.

Barack Obama surpasses his 13 predecessors, including Bill Clinton and Ronald Reagan, relative to the stewardship of our financial markets and most economic indicators. The average annual compound returns for the Dow, S&P500, and NASDAQ have been 17.2%, 25.3% and 31.7% respectively in Obama’s first 3.3 years. This compares to Reagan’s first term results (for the same indices and time period) of 6.86%, 6.16%, and 7.02% respectively.


As for months of recession in their corresponding first terms, Reagan presided over one of the longest recessions (16 months) in our history. In contrast, the recession under Obama lasted five months in 2009. We have seen positive job growth for 26 consecutive months under President Obama, and although it has been painful, one needs to realize we are crawling out of a very deep hole. For ten of the 16 months in the Reagan recession, the unemployment rate exceeded 10%, reaching a high of 10.8% for two months in late fall of 1982. The highest unemployment rate under Obama was one month of 10% in late 2009.

Today our unemployment rate stands at 8.2%; Reagan at this same point had a rate of 7.8% in April of 1984. By Election Day that year, unemployment had fallen to 7.4% and he won by a landslide because there was a sense things were improving, and they were. Even after Reagan was reelected, it took two more years, until November of 1986, for the unemployment rate to finally fall below 7%.

If one looks at returns in the stock market, months of recession, average unemployment, inflation, income inequality, industrial production and after-tax corporate profits, Obama outperforms in all of these categories compared to Reagan’s first term.

The challenge will be whether Obama can match Reagan’s fourth-year job growth which spiked to almost 3.9 million new jobs in the private sector in 1984. That may be a stretch, yet it remains to be seen how this year will play out. Obama’s results to date exceed Reagan’s in ten of12 major economic data points. Not too shabby for a man who has been falsely accused by Mr. Romney and other pundits as an economic novice.

The question is: What would these same critics and pundits have said about Ronald Reagan’s first term, given the actual facts?

This begs another question: When did it become an American value to heckle, play “Monday morning quarterback” and root for our president to fail? The 24/7 phenomenon of playing the role of cynic and heckler against our president, which President Reagan did not have to endure when he was struggling in his first term, needs to be eradicated. Ronald Reagan and Tip O’Neill worked as a team for the betterment of our country.

During the 1980s, there was the notion we were all in this together and a sense that our leaders were statesmen. Our country needs a return to the days of Reagan and O’Neill where statesmanship and compromise were customary and considered paramount. We need to focus on actual results — not rhetoric and hyperbole.

In the meantime, President Obama should be applauded for the results of his first term as steward of our economy and the applause should come from both sides of the aisle.

Bob Deitrick is the co-author of Bulls, Bears and the Ballot Box, coming out on July 1, 2012. He is the co-owner of Polaris Financial Partners.