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

To: KyrosL who wrote (46648)	1/23/2008 1:58:49 PM
From: Steve Lokness	Respond to of 542171

KyrosL; Carter only governed for 4 short years and inherited an inflation ravaged economy from Ford and Nixon And why was Carter there for only 4 years? The answer to that question is what Obama and I am arguing. How bad were things that Reagan inherited? Inflation in 1980 - 13.5% Unemployment in 1980 - 7.2% rising to 9.7% in 82. Discount Rate high in 81 - 14% As you can see that while you are indeed correct that decision to correct for Carters Presidency were started at the end of his term - the pain and awful recession were in the middle of Reagan's first term. Can you imagine our economy today with 13.5% inflation and unemployment at 9.7% and a discount rate at 14% all to clean up the party that Carter threw? Of course there was a huge budget deficit. If there wasn't, the interest, inflation and unemployment would all have been considerable higher. The problem is not that Reagan went in to deficit spending - it was that he stayed there. steve

To: KyrosL who wrote (46648)	1/23/2008 2:18:56 PM
From: JohnM	Read Replies (1) \| Respond to of 542171

Terrific chart.

To: KyrosL who wrote (46648)	1/23/2008 6:15:38 PM
From: epicure	Read Replies (1) \| Respond to of 542171

I seem to remember Reagan and his cronies played a serious shell game with who's who in the employment and unemployment stats. Didn't he include the military? The military he was expanding? I can't remember the exact things he did, but I do remember my parents saying that the stats, which had never been perfect, became ridiculous after Reagan.