Reagan vs Obama

Discussion in 'Politics' started by boedicca, Apr 29, 2011.

  1. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    I'm putting this in Politics because the economic performance is a function of policy, leadership and politics.

    Reagan vs. Obama - A Tale of Two Recoveries

    Which policies achieved the better result:


    [​IMG]

    And granted, the economy needs to expand by at least 2.5% just to keep up with growth in the labor force. So at 1.8%, we're essentially losing ground, a fact that last week's 429,000 initial jobless claims underscores. But what Goolsbee didn't acknowledge is that the economy could be growing at a much faster rate, and would be if it weren't saddled with Obama's reckless policies.

    How do we know this? Compare the two worst post-World War II recessions. Both the 1981-82 and the 2007-09 downturns were long (16 months and 18 months, respectively) and painful (unemployment peaked at 10.8% in 1981-82 and 10.1% in the last one).

    What's dramatically different, however, is how each president responded.

    Obama massively increased spending, vastly expanded the regulatory state, and pushed through a government takeover of health care. What's more, he constantly browbeats industry leaders, talks about the failings of the marketplace and endlessly advocates higher taxes on the most productive parts of the economy.

    In contrast, Reagan pushed spending restraint, deregulated entire industries, massively cut taxes and waxed poetic about the wonders of a free economy.

    The result? While the Reagan recovery saw turbocharged growth and a tumbling unemployment rate, Obama's has produced neither....


    Editorial: A Tale Of Two Recessions And Two Presidents - Investors.com
     
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  2. RDD_1210
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    RDD_1210 Forms his own opinions

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    Funny how the article makes no mention of what the top tax rates were under Reagan. Perhaps we should revert back to those levels?
     
  3. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    You continue to celebrate your economic illiteracy. Reagan cut taxes overall.
     
  4. RDD_1210
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    RDD_1210 Forms his own opinions

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    Cut them to what? What were the top rates? Should we go back to the rates under his administration?
     
  5. spectrumc01
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    spectrumc01 I give you....the TRUTH

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    This looks like a fun game, how do you play?

    I'd like to see Nixon Vs Clinton. "I'm not a crook" VS "I did not have sex with that woman."
     
  6. Dr.Drock
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    Dr.Drock Senior Member

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    "In contrast, Reagan pushed spending restraint"

    Was the person who wrote this drunk?
     
  7. Truthmatters
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    Truthmatters BANNED

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    HAHAHAHAHAHAHAHAHAHAAH


    they are just so propaganda filled they dont get the implcations of their own propaganda.
     
  8. PoliticalChic
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    PoliticalChic Diamond Member

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    [ame=http://www.youtube.com/watch?v=SS6NjdGLVZs]YouTube - !!KILLER WHALE VS GREAT WHITE SHARK!![/ame]
     
  9. PoliticalChic
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    PoliticalChic Diamond Member

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    To some extent, Reagan deserves credit for trying to slow spending.

    a. The Balanced Budget and Emergency Deficit Control Act of 1985, from the Gramm-Rudman-Hollings act, set specific deficit reduction targets, and would have required drastic slashing of defense and domestic spending programs by 1990…except that Congress re-wrote the bill. John Samples, “The Struggle to Limit Government: A Modern Political History,” p. 139.

    b. “Ronald Reagan sought- and won- more spending cuts than any other modern president. He is the only president in the last [forty-five] years to cut inflation adjusted nondefense outlays, which fells by 9.7 percent during his first term.” Veronique de Rugy, “President Reagan: Champion Budget-Cutter,” AEI - Papers

    c. But…over his two terms, total federal spending increased 22% faster than inflation. On the other hand, if you consider it as a percentage of GDP, since he grew the economy, spending actually decreased from 22.2% to 21.2 %. Historical Tables | The White House

    d. On March 25, 1986, The Senate came within one vote of the 2/3 for a balanced budget constitutional amendment...but not even close in the House.
     
  10. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Reagan's economic policies were an unmitigated disaster. There were not one..but two major bailouts and multiple bank failures. It took the very pragmatic and very sound domestic policies of George HW Bush to steer the United States out of failure. But heck..the mythmaking continues unabated by the right..
     

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