| You are quite wrong. The recession was caused by the Fed using high interests rates to flush out "stagflation", which had been hovering over the economy through Carter's term. The recession was a result of Carter's policies. The S&L debacle had been brewing for years prior to the Reagan Administration, and was primarily a matter of Congressional decisions. The Reagan Administration had one of the longest peacetime expansions in our history, after 82, and also drove down inflation. Further, the Bush recession (largely a result of base closings) was very brief, and the economy was in recovery, according to revised federal figures, long before Clinton took office. The first couple of years, the economy grew at about the rate it had under Bush, but really took off after the election of the Republican Congress. Also, support of the mujaheddin began in the Carter Administration, and did not automatically lead to the Taliban taking power, and Iraq, well, we accomplished our limited objectives, but Saddam proved to be more durable than had been expected......... |
