Valox
Senior Member
- Dec 1, 2011
- 1,023
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The difference between the Reagan "early years" and the Obama "early years" is that in his first two years, Dutch Reagan did the hard work of tackling the stagflation that he inherited from Jimmy Carter by having the Fed tighten up the money supply...an action that made unemployment rise. Once he had inflation under control, Reagan cut taxes and the economy took off...leading to the longest period of continuous economic growth in our nation's history. In contrast, Barack Obama has had the Fed keep printing money like crazy to try and stimulate the economy and kept interest rates as close to zero as possible. There is no economic boom waiting around the corner for Mr. Obama because he hasn't laid the groundwork for that to happen. Sorry, Erik...but your guy doesn't understand economics and brought in a team of economists that were equally clueless.
Ummm...that was Volcker who attacked inflation, and was originally appointed under the Carter administration.