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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (68815)	1/25/2014 12:46:20 AM
From: LLCF	Read Replies (1) \| Respond to of 71588

<Reagan supported Volcker on breaking the over-inflation > LOL... don't forget to give credit to the guy who HIRED him! LOL... Volker was the hero, not Reagan, there is NO doubt about that. Reagan deserves credit for no piling on Volker with the rest of the republicans though... that is true. "Support" in the sense that he didn't go along publicly/verbally with his own administration is certainly worth noting, but VOLKER, not Reagan had the knowledge and the BALLs... period. Volker is absolutely the most important player of the era, period... he didn't need Reagan's approval, and it's not even clear he got it... but in any case it was HIS ideas. DAK

To: TimF who wrote (68815)	1/26/2014 2:33:40 AM
From: RMF	Read Replies (2) \| Respond to of 71588

Carter was the one that appointed Volcker and he appointed him to do EXACTLY what he did, although maybe not to such a severe extent. As far as Reagan's tax cuts I don't think they had much affect at all except for the wealthiest of Americans. Reagan and Volcker CRUSHED the economy to almost depression levels with interest rates over 20% which put MANY small business owners OUT of business. They then cut interest rates year after year which benefitted Large Businesses greatly and the wealthy investors in those businesses even more greatly. How many manufacturing jobs were GAINED/LOST during the Reagan years?