billyerock1991
Gold Member
- Apr 24, 2012
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Reagan deregulated the private sector, cut government spending, lowered taxes, and the economy boomed. Very simple.
I don't know what country you lived in but there was no boom... there was a great loss of jobs ... loss of retirement plans.. under reagan with his deregulating of the saving and loans companies ... that cost the middle class billions of dollars and more lost jobs ... were you get this notion of economy boom is beyond me ... now if you want to talk about a ecomemy boom lets talk about the clinton years...
No, the unemployment rate had gone up after Reagan's inauguration, but barely just after he had submitted his budget and given it a chance to take affect. That means the high UE number was due to Carter's policies. Once Reagan's policies took effect, the numbers dropped steadily till he left office. Not like Obama's that go up and down.
He left office at 5.2% Unemployment. But more importantly, inflation had dropped so drastically that the price of everything...a house, food, cars, etc.....things that matter to the middle class....had come way down.
And what else was a great thing for the middle class??? Interest rates had gong as high as 20% under Carter but were brought wayyyyyyyyyyyyy down by Reagan so people could afford homes.
This is why people loved the 80s.
As for Clinton, he enjoyed the heavy lifting Reagan did at ending the very costly Cold War. Clinton got the benefit of that with defense cuts left and right....and after Reagan had cleaned out the cobwebs in the economy and gotten it firing on all four cylinders.
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