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Politics : View from the Center and Left
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To: Wharf Rat who wrote (257843)8/8/2014 5:34:05 PM
From: JohnM  Read Replies (2) of 541517
 
"Krugman, like many of us, considers the Reagan years as the defining moment in the loss a hardy middle class."

I generally blame Raygun for almost everything, but I think the '73 OPEC embargo was.

Probably should made that clearer. There are a series of things in the 70s, including the oil embargo, which created crises. But the last serious time we had to recover back to something like the distribution schemes of the 50s and 60s was the 1980 election. Had Kennedy defeated Carter for the Dem nomination or Carter defeated Reagan (no Iranian hostage crisis, and on and on), we would have seen a very different story.
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