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Politics : View from the Center and Left
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To: Steve Lokness who wrote (239822)12/13/2013 9:59:24 AM
From: Sam  Read Replies (1) of 541990
 
Not to be argumentative, but to unring the bell in the case of Scott Walker would have meant Wisconsin would have undone what Walker did. That didn't happen. You can't unring the bell.

You miss my point -- Walker unrung a bell that public unions had rung years ago.

As to Reagan; he was handed a basket case every bit as bad as the one Bush handed to Obama.

That is just completely wrong. Interest rates were sky high and rising when Reagan entered office. His admin was facing inflationary threats, not deflation, and he was gifted Paul Volcker as Fed chair, who was already busy doing the dirty work of raising rates in order to deflate the economy and relieve rates. And oil prices had done much of their rising by the time Reagan entered office, though not all of it. He was the beneficiary, in the ripeness of a couple of years into his first term, of sharp drops in both interest rates and oil prices. That wasn't a basket case of an economy, it was an incredible opportunity where Reagan was put in the position of being able to give out the "goodies" of steep tax cuts and depreciation allowances while other people were blamed for the pain. Very different from Obama, who was handed what everyone acknowledges was the worst financial crisis since the 1930s, interest rates were already very low, and a sky-high deficit and debt was already built into the budget.
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