Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Kenneth E. Phillipps who wrote (59777)	2/20/2009 12:55:52 PM
From: TimF	2 Recommendations Read Replies (1) of 224749

Reagan inherited an unemployment rate of seven and a half percent, with high inflation. This shocked the people who thought you could stimulate your way our of unemployment. All the stimulus did was increase inflation, without in the long run decreasing unemployment. The inflation had to be wrung out of the system and it was. Combined with lowering marginal rates, and tax reform, this set up the economy for solid future growth for years to come. Obama's doing the opposite. He's encouraging more and more stimulus to the economy. He opposes lowering marginal rates (and in fact campaigned on increasing them), and he is making the tax code more complex with more special breaks and loopholes. Its possible that the long run strength of our economy (despite its short, to at worst medium term current problems) can shrug off this damage and resume solid growth, but its a risky bet, and even if the economy can resume decent growth despite these policies the growth will be lower than it could have been.

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