<<I will have to check on Carter, but I believe you are making the mistake of comparing in nominal currency, which was highly inflated during the Carter years>>
Adjusted for inflation revenue grew 25% faster under Carter than Reagan: 2.4% for Reagan, 3.0% for Carter (annualized). Job growth was also much better under Carter than Reagan.
<<I am not sure whether it is useful to have a general supply side argument just now, but I will observe that the War is not a good point of comparison, since the war effort was driving economic growth, and, in the post war period, we profited from an anomalous share of world trade.>>
If we can't use WWII or post war data, what good is the supply side, or any for that matter, argument?
I find it ironic that Republicans credit Pearl Harbor and WWII for our amazing economic performance under a Democrat President and then cite 9/11 and the war on terror as an excuse for sub-par economic performance under a Republican President. (Actually it's the opposite of ironic, it's exactly what i'd expect.)
Steve Dietrich |
