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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: goldworldnet who wrote (344864)	2/9/2010 9:16:09 AM
From: Peter Dierks	1 Recommendation Read Replies (1) \| Respond to of 793843

Lessons on 99th anniversary of Reagan's birthday By: Grover Norquist OpEd Contributor February 5, 2010 As President Obama reflects and wonders why the American people are rejecting his policies, he should look to the years of President Reagan's time in office for an example of how to model his steps moving forward. One has to look no further than Virginia, New Jersey and my home state of Massachusetts to see that the electorate is not fond of his agenda. Obama should learn what Reagan learned years ago and touted in office, that many of our problems were created by government and will not be solved by creating more government. When Jimmy Carter left the White House, inflation was 11.8 percent. Unemployment was stuck during his four-year term at between 7 and 8 percent. Interest rates increased from 7.1 percent in 1977 to 20 percent by the beginning of January 1981. Japan was viewed as the model for economic growth. The Soviet Union and its empire were on the march occupying Afghanistan and Eastern Europe, and adding colonies in Nicaragua in Central America and Angola, Mozambique and Ethiopia in Africa. Iran held American hostages. Inflation was caused by the government spending too much money and printing too much money. Low growth and unemployment were a result of income tax rates on individuals as high as 70 percent and on businesses as high as 50 percent. Reagan cut marginal income taxes from 70 percent to 28 percent in two tax reforms in 1981 and 1986. Nearly 4 million jobs were created in 1983 alone. During Reagan's presidency, 16 million jobs were created. Inflation fell from more than 10 percent when Reagan took office to 3.85 percent in 2008. Few Americans now remember the ravages of inflation in the 1970s. On foreign policy, Reagan built the military strength of America without ... Message 26308339