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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (46628)	1/23/2008 12:31:18 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 542139

KyrosL; Reagan reaped the benefits of them, since, as you know there is a lag of a year or two before interest rate movements start affecting inflation. Reaped the benefits. You have to be kidding. The benefit that Reagan inherited was a recession like none we have seen since. You don't break the back of inflation without lots of pain. The pain doesn't come when the rates are jacked up, they happen going forward. Carter had the benefit of reckless economic policy (I would argue like Bush), and Reagan paid the cost of correction. Everyone is missing the point though - you are falling for the black baby story. That everyone here is arguing about what Reagan did or didn't do - instead of listening to the point I am making. It's not that Reagan was good or bad - it's that Reagan did what he did during harsh times and did so by bringing people together. He formed a coalition and galvanized people to his story - right or wrong - you can't argue he didn't do that. And that is what Obama was saying. steve