When Ronald Reagan took over the leadership of the United States in 1981, he inherited an economy that was in terrible shape—the worst American economy, in fact, since the Great Depression of the 1930s. Politics is a messy business. When it came to deregulation, like taxation and spending, Ronald Reagans clear and simple ideological principles could be translated only imperfectly into concrete administration policies. Those policies, imperfect as they were, augmented a normal upswing in the business cycle to help restore confidence in the economy among the American people, generating a prolonged economic expansion that lasted, nearly unbroken, from 1982 through 1999. And while that expansion had its flaws—uneven wealth distribution foremost among them—there is little question that it represented a dramatic improvement over the dark days of stagflation in the 1970s. shmoop/reagan-era/economy.html The Obama economy is getting worse. The Obama economy is still in the doldrums. In the fourth quarter of 2013, gross domestic product grew at a paltry pace of 2.4 percent, down from prior estimates of 3.2 percent. The recession officially ended in June 2009, but the Obama recovery isn’t much of one and lags well behind other recoveries. The 2009 stimulus plan, even if you buy into Keynesian economics in theory, was ill-designed (no shovel-ready jobs, the president later confessed) and was a waste of time and money. We still are down 6 million jobs from pre-recession levels. There should be policy and political consequences. washingtonpost/blogs/right-turn/wp/2014/02/28/the-obama-economy-is-getting-worse/
Posted on: Mon, 07 Apr 2014 03:29:15 +0000
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