The Real Reagan Economic Record: Responsible and Successful Fiscal Policy
HOW DID REAGAN'S POLICIES AFFECT ECONOMIC GROWTH?
Despite the steep recession in 1982--brought on by tight money policies that were instituted to squeeze out the historic inflation level of the late 1970s--by 1983, the Reagan policies of reducing taxes, spending, regulation, and inflation were in place. The result was unprecedented economic growth:
This economic boom lasted 92 months without a recession, from November 1982 to July 1990, the longest period of sustained growth during peacetime and the second-longest period of sustained growth in U.S. history. The growth in the economy lasted more than twice as long as the average period of expansions since World War II.10
The American economy grew by about one-third in real inflation-adjusted terms. This was the equivalent of adding the entire economy of East and West Germany or two-thirds of Japan's economy to the U.S. economy.11
From 1950 to 1973, real economic growth in the U.S. economy averaged 3.6 percent per year. From 1973 to 1982, it averaged only 1.6 percent. The Reagan economic boom restored the more usual growth rate as the economy averaged 3.5 percent in real growth from the beginning of 1983 to the end of 1990.
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Amazing how the Statist continue to smear Reagan. History shows a different story.................If you look at the facts we had one of the Largest Economic Growths in the 20th Century. Reagan added 16 Million new jobs, from CARTER'S STAGFLATION ECONOMY.
On the other side of the Ocean, Thatcher did the same..............Liberals attack them because their policies are completely against A TRUE CONSERVATIVE, and try to DITCH HIS ACCOMPLISHMENTS as they PRAISE THE UTTER FAILURE OF OBAMANOMICS.......................
Obama and the Dems have a MISERABLE ECONOMY................Yet the Statist praise it.........Offering the people a Shit Sandwich, putting artificial flavoring into it, and SAYING IT'S GOOD....................
Bottom line, the TRUTH IS STILL A SHIT SANDWICH. Take a bite.