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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: E who wrote (57113)	10/4/1999 11:18:00 PM
From: Zoltan!	Read Replies (3) \| Respond to of 108807

>>Recall that Reagan came into office upholding the notion that tax cuts would generate a huge economic revival. He got what he wanted from Congress. Here's the quote. You can skim the first para: "... By the end of Reagan's first year, December 1981, 59% of those asked by pollsters said no when asked if they were better off than last year; only 36% said yes. And the worst was still ahead. In 1982, unemployment rose to 10.7%, higher than it had been since the Great Depression, along with the greatest number of bank failures since 1940. Record bankruptcies and farm closures were occurring. It was a world gone crazy. The president who came in to cut spending, increased it throughout his first term. He added as much to the national debt in those four years as had been accumulated in our national history to that point... Laurence Barrett, given extraordinary access to Reagan at this time, marvelled at his "absolute refusal to acknowledge the connection between his policies and the major recession of 1981-82." What a maroon!!! Because there was none!!! You are an economic illiterate. How could they since the 1981-82 recession occurred prior to Reagan's policies taking effect and as Charles L. Schultze, Jimmy Carter's economic advisor admitted, was a product of Carter's policies, not Reagan's. There were no tax cuts in December of 1981. They started in April of 1982, precisely what was needed to get US out of Jimmy's recession. And they worked. The people's judgment came in 1984. Biggest landslide in history. You aren't helping that reputation of yours. Illiterate.