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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Paul V. who wrote (112101)9/6/2011 10:06:21 PM
From: joefromspringfield7 Recommendations  Read Replies (1) of 224729
 
"With the financial crisis regardless of who was President I can not see any President would have made a difference. If you would have please educate me as who, and what programs would they have implemented to make the difference."

JMHO

Lets go back to August 1983. Inflation was high and so was interest rates. Unemployment was 9.5%. .4% higher than today.

Paul Krugman wrote:

"By the end of 1982 the U.S. economy was deeply depressed, with the worst unemployment rate since the Great Depression."

Sound familiar? Unemployment topped out at 10.8% the last two months in 1982. The highest it has been under the current president is 10.1% Oct 2009. That is the only month over 10%.

Ronald Reagan was president. He actually majored in economics. He had an economic program that critics said wouldn't work.

- Cut tax rates

- Deregulation

- Defense build up resulting in US manufacturing jobs.

Well unemployment went down. Reagan was reelected by a landslide. Obama is in a similar situation. We shall see if he is successful.

I am not saying this is what we need to do today but I do contend that things were just as bad or worse in the early 80's than they are today.

"Those who do not study history are doomed to repeat it."
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