CJ AEGIS, on Apr 5 2003, 09:37 PM, said:
Here I have to disagree. I also think I could get a fair amount of economists to agree with many assuming they had the brains to set the political rhetoric aside. Deficit spending and trickle down economics works to get the economy back on track and strong.
A few simple facts that one can easily dig up and verify that I pulled out of stuff I have around.
- Inflation averaged at 12.5 percent when Reagan entered office and it was reduced to 4.4 percent when he left.
- During his administration Interest rates fell six points.
- Eight million new jobs were created as unemployment fell during his administration. When he took office the unemployment rate was 7.6 percent and was down to 5.5 when he left office..
- An eight percent growth in private wealth occurred during it.
- In none of the years following the tax cuts that were made did revenue to the Federal Government decline. The actual budgets did grow larger but the military budget was smaller than during the administrations of Johnson and JFK.
- The average annual growth rate of real GDP from 1981 to 89 was 3.2 percent per year. This is compared with 2.8 percent from 1974 to 81 and 2.1 percent from 1989 to 95.
- The real median family income rose from $34,200 in 1980 up to $37,000 in 1988 and in fact has fallen off by $1,000 in the post Reagan years leading to now. Prior to Reagan there was no growth in this area.
In addition prior to the election that brought Clinton into power the economy was on the recovery if you look back at the information. Reaganomics was one of the great successes that pulled the economy out of a recession; you just have to swallow the pill (debt), have patience for the effects to show in the long term, and then things will settle out.
Agreed. Excellent foreign policy and true to his nickname as a great communicator.
Reagan I think long term in the history books will go down as a great president that most everyone the time looked over. Not quite the same level as an Lincoln or Teddy Roosevelt and not the level of an Eisenhower. More as a guy who was in the office and actually knew what he was doing there.