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Politics : View from the Center and Left
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To: Steve Lokness who wrote (46644)1/23/2008 1:29:28 PM
From: KyrosL  Read Replies (4) of 542180
 
Steve, The decisions that led to the braking of inflation were made under Carter

At last we agree on something <g> And it was not only the decisions, but also the actions. ALL the interest rate increases by the Fed that broke inflation were done under Carter. Reagan increased spending tremendously. That hardly qualifies as inflation-fighting action.

Now, regarding parties and hard decisions, I am afraid you got things totally wrong again <g>

A party means running huge deficits and spending with abandon. Guess who did that? Why, Reagan, of course. Carter run a tight budget and under his watch the national debt as a percent of GDP actually FELL. As for Carter's "terrible" administration, you must remember that Carter only governed for 4 short years and inherited an inflation ravaged economy from Ford and Nixon (remember Ford's WIN buttons, Whip Inflation Now, and Nixon's price controls?).

Here, in graphic form is Reagan's legacy: a record increase in national debt.

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