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

To: TimF who wrote (68950)	2/14/2014 8:51:21 PM
From: RMF	Read Replies (1) \| Respond to of 71588

The difference between Carter and Reagan was that Carter wanted to tighten monetary policy to squeeze out inflation but Reagan wanted to CRUSH the economy so that he could blame the horrific economic effects on Carter but then take credit for the eventual economic growth as rates were gradually dropped. I was THERE working in the housing industry at the time. We had a good little company going but over 20% interest rates killed US and everybody else in the same position. That was the Reagan Administration's goal. To just DESTROY the economy and blame it all on Carter and then take credit for the INEVITABLE growth that came from gradually lowering interest rates. ANY president that can get interest rates up to 22-25% and avoid blame for it and then progressively LOWER those rates over time will end up looking like a HERO....