Reagan Unumployment rate was 10.8% at the End of 82

[Truthseeker420]

Reagan came into office with initial job approval ratings as high as 60% by mid-March 1981. On March 30, Reagan was shot by John Hinckley and the resulting concern and sympathy lifted his ratings to 68% by May.

But even as Reagan recovered from his wounds, the public's concerns about the bad economy didn't, and his ratings began to fall as each month went by.

By the end of 1981, Reagan's job approval rating had drifted down to 49%.

In 1982, the public's view of the economy remained sour, and his ratings during 1982 fell even further, hitting the 40% range, ending his second year at 41%. In the '82 midterm elections, the Republicans lost 28 seats in the House. The cause? The economy and the voter's anger over it.

The unemployment rate in Reagan's second year - a full year after his tax cuts for the top 1% - rose to a post WW2 high of 10.8%. According to Gallup, only one third approved of the way he was handling the economy, with the deficit exploding due to his tax cuts benefiting the wealthy.

At the beginning of '83, his approval rating fell to a low of 35%.

The economy, and Reagan's approval, only started to improve in his third year.

01/1981 - Unemployment rate 7.5% .... Reagan sworn in.
02/1981 - 7.4%
03/1981 - 7.4%
04/1981 - 7.2%
05/1981 - 7.5%
06/1981 - 7.5%
07/1981 - 7.2%
08/1981 - 7.4% *Reagan cuts taxes for top 1% & says unemployment will DROP to 6.9%.
09/1981 - 7.6%
10/1981 - 7.9%
11/1981 - 8.3%
12/1981 - 8.5%
01/1982 - 8.6%
02/1982 - 8.9%
03/1982 - 9.0%
04/1982 - 9.3%
05/1982 - 9.4%
06/1982 - 9.6%
07/1982 - 9.8%
08/1982 - 9.8%
09/1982 - 10.1%
10/1982 - 10.4%
11/1982 - 10.8%

Daily Kos: Unemployment Hits 10.8%, Presidential Approval Drops to 35%

 

[Political Junky]

Reagan came into office with initial job approval ratings as high as 60% by mid-March 1981. On March 30, Reagan was shot by John Hinckley and the resulting concern and sympathy lifted his ratings to 68% by May.

But even as Reagan recovered from his wounds, the public's concerns about the bad economy didn't, and his ratings began to fall as each month went by.

By the end of 1981, Reagan's job approval rating had drifted down to 49%.

In 1982, the public's view of the economy remained sour, and his ratings during 1982 fell even further, hitting the 40% range, ending his second year at 41%. In the '82 midterm elections, the Republicans lost 28 seats in the House. The cause? The economy and the voter's anger over it.

The unemployment rate in Reagan's second year - a full year after his tax cuts for the top 1% - rose to a post WW2 high of 10.8%. According to Gallup, only one third approved of the way he was handling the economy, with the deficit exploding due to his tax cuts benefiting the wealthy.

At the beginning of '83, his approval rating fell to a low of 35%.

The economy, and Reagan's approval, only started to improve in his third year.

01/1981 - Unemployment rate 7.5% .... Reagan sworn in.
02/1981 - 7.4%
03/1981 - 7.4%
04/1981 - 7.2%
05/1981 - 7.5%
06/1981 - 7.5%
07/1981 - 7.2%
08/1981 - 7.4% *Reagan cuts taxes for top 1% & says unemployment will DROP to 6.9%.
09/1981 - 7.6%
10/1981 - 7.9%
11/1981 - 8.3%
12/1981 - 8.5%
01/1982 - 8.6%
02/1982 - 8.9%
03/1982 - 9.0%
04/1982 - 9.3%
05/1982 - 9.4%
06/1982 - 9.6%
07/1982 - 9.8%
08/1982 - 9.8%
09/1982 - 10.1%
10/1982 - 10.4%
11/1982 - 10.8%

Daily Kos: Unemployment Hits 10.8%, Presidential Approval Drops to 35%

Yep, sure was. Reagan had a 10.8% unemployment and 35% approval.

 

[hortysir]

And this is, most likely, the 37,000,000th time it's been posted online.

Does this excuse BamBam?

 

[Cal]

Unumployment?

Ur a gud speeelller!

 

[Truthseeker420]

Unumployment?

Ur a gud speeelller!

lol like you don't use spellcheck. unemployment.

 

[whitehall]

Reagan had a slim majority in the senate but he had to deal with a hostile democrat majority in congress during his first term. Contrast that to Obama who had a blank check majority in both congress and the senate and came up with a historic spending spree worthy of a community activist on drugs with a stolen ATM card.

 

[Truthseeker420]

And this is, most likely, the 37,000,000th time it's been posted online.

Does this excuse BamBam?

About the same amout of threads that give BS about Reaganomics/Trickle Down Theory.

 

[Cal]

Unumployment?

Ur a gud speeelller!

lol like you don't use spellcheck. unemployment.

 

[Truthseeker420]

Unumployment?

Ur a gud speeelller!

lol like you don't use spellcheck. unemployment.

I read somewhere,with the exception of you(j/k), that people don't look at the whole word but just key letters.

 

[Flopper]

Tax cuts are good for the economy right? Would anyone care to explain why unemployment has increase after every major tax cut in the last 50?


Tax Fredom Act 1969 5yr avg before cut 3.445 5yr avg after cut 3.58%

Tax Reform Act of 1981 5yr avg before cut 7.4% 5yr avg after cut 7.9%

Tax Relief Act of 2003 5yr avg before cut 5.9% 5yr avg after cut 6.1%

Tax Relief Act of 2003 5yr avg before cut 4.94% 5yr avg after cut 7.9%

 

[Avatar4321]

You know, they actually counted unemployment correctly back then too

 

[finebead]

Tax cuts are good for the economy right? Would anyone care to explain why unemployment has increase after every major tax cut in the last 50?


Tax Fredom Act 1969 5yr avg before cut 3.445 5yr avg after cut 3.58%

Tax Reform Act of 1981 5yr avg before cut 7.4% 5yr avg after cut 7.9%

Tax Relief Act of 2003 5yr avg before cut 5.9% 5yr avg after cut 6.1%

Tax Relief Act of 2003 5yr avg before cut 4.94% 5yr avg after cut 7.9%

Pretty easy to explain. The 5 years preceding a tax cut (stimulus to economy) are generally a robust late cycle economic expansion, that dips into recession. The recession triggers the tax cut to stimulate the economy (in the short run), usually at the cost of increasing the deficit. Employment recovers slowly after the recession.

Of course in 1981, Paul Volker was in the process of raising interest rates to 12% to choke inflation, and in the process he induced a deep recession. The medicine was harsh, but it was necessary to break the back of inflation (highest in my lifetime). We discovered what an enemy inflation is to the lower and middle class families. We wanted inflation dead, and were glad when it went away. There were true stories of retirees going to the grocery and buying canned dog food with horse meat in it, for themselves; its the best they could afford. This point illustrates that there are many forces active in a large economy at all times, which is why I never buy simplistic conservative arguments about tax cuts and economic activity either; the economy is more complex than that. Tax policy is usually not the main driver of the economy. To attempt to explain economic performance solely on tax policy is a fools errand.

 

[bripat9643]

About the same amout of threads that give BS about Reaganomics/Trickle Down Theory.

Yep, the term "trickle down" is BS. It's just a derogatory term meaning the "free market."

 

[The Rabbi]

Reagan came into office with initial job approval ratings as high as 60% by mid-March 1981. On March 30, Reagan was shot by John Hinckley and the resulting concern and sympathy lifted his ratings to 68% by May.

But even as Reagan recovered from his wounds, the public's concerns about the bad economy didn't, and his ratings began to fall as each month went by.

By the end of 1981, Reagan's job approval rating had drifted down to 49%.

In 1982, the public's view of the economy remained sour, and his ratings during 1982 fell even further, hitting the 40% range, ending his second year at 41%. In the '82 midterm elections, the Republicans lost 28 seats in the House. The cause? The economy and the voter's anger over it.

The unemployment rate in Reagan's second year - a full year after his tax cuts for the top 1% - rose to a post WW2 high of 10.8%. According to Gallup, only one third approved of the way he was handling the economy, with the deficit exploding due to his tax cuts benefiting the wealthy.

At the beginning of '83, his approval rating fell to a low of 35%.

The economy, and Reagan's approval, only started to improve in his third year.

[/url]

And by the end of his term the unemployment rate was half that. Wanna make bets what the unemployment rate will be at the end of Obama's term? I'd bet money it will be nowhere near 5.5%. Even the White House is not predicting that.

 

[editec]

Reagan no more caused the unemployment when he was in office, than Obama is causing unemployment now.

Coming at these highly complex economic issues like simpletons might satisfy youf partisans' need for scoring political points, but none of you are saying anything worth seriously considering.

 

[The Rabbi]

Reagan no more caused the unemployment when he was in office, than Obama is causing unemployment now.

Coming at these highly complex economic issues like simpletons might satisfy youf partisans' need for scoring political points, but none of you are saying anything worth seriously considering.

Reagan's policies directly caused unemployment to reach lows that had not been seen in decades.
Obama's policies have directly caused unemployment to reach highs that have not been seen in decades. Were it not for the unprecedented intervention in the economy we would be midway through the rebound cycle, with unemployment around 7-8% and a growing housing market. Instead we are in slow growth with the economy susceptible to oil shocks and a weak dollar.

 

[Sallow]

Reagan had a slim majority in the senate but he had to deal with a hostile democrat majority in congress during his first term. Contrast that to Obama who had a blank check majority in both congress and the senate and came up with a historic spending spree worthy of a community activist on drugs with a stolen ATM card.

How many Democratic filibusters during Reagan's first term?

 

[Sallow]

Reagan no more caused the unemployment when he was in office, than Obama is causing unemployment now.

Coming at these highly complex economic issues like simpletons might satisfy youf partisans' need for scoring political points, but none of you are saying anything worth seriously considering.

Reagan's policies directly caused unemployment to reach lows that had not been seen in decades.
Obama's policies have directly caused unemployment to reach highs that have not been seen in decades. Were it not for the unprecedented intervention in the economy we would be midway through the rebound cycle, with unemployment around 7-8% and a growing housing market. Instead we are in slow growth with the economy susceptible to oil shocks and a weak dollar.

Ridiculous.

Reagan's economy was puncuated by bailouts and bank failures.

And the rich..getting incredibly rich.

And all the Republican mythmaking isn't going to change that.

 

[midcan5]

Reagan is so powerful a myth in the minds of the believers, reality, that darn thing we only wonder about, is lost, excused, hidden, or discouraged. Heroes are always excused by their followers.

"....there's a growing realization that the starting point for many of the catastrophes confronting the United States today can be traced to Reagan's presidency. There's also a grudging reassessment that the "failed"- presidents of the 1970s--Richard Nixon, Gerald Ford and Jimmy Carter--may deserve more credit for trying to grapple with the problems that now beset the country." OpEdNews - Article: Ronald Reagan: Worst President Ever?

http://www.truth-out.org/a-rich-fantasy-life67572
Allen Barra: Allen Barra on the Myth of Ronald Reagan - Book Review - Truthdig

 

[Sallow]

Reagan is so powerful a myth in the minds of the believers, reality, that darn thing we only wonder about, is lost, excused, hidden, or discouraged. Heroes are always excused by their followers.

"....there's a growing realization that the starting point for many of the catastrophes confronting the United States today can be traced to Reagan's presidency. There's also a grudging reassessment that the "failed"- presidents of the 1970s--Richard Nixon, Gerald Ford and Jimmy Carter--may deserve more credit for trying to grapple with the problems that now beset the country." OpEdNews - Article: Ronald Reagan: Worst President Ever?

http://www.truth-out.org/a-rich-fantasy-life67572
Allen Barra: Allen Barra on the Myth of Ronald Reagan - Book Review - Truthdig

He was far worse then a failed President. Iran Contra was about Treason and violating the United States Constitution. And the bailouts opened the flood gates for the wealthy to do what ever the heck they wanted..and have the taxpayers cover their risk taking.