The Miraculous Reagan Economy of the 80s. Greatest of all time
Yeah, this is an old argument. The Forum RETARD tried to say Reagan ruined the economy of the Seventies
Let's see.
Reagan inherited a MISERY INDEX. (Kind of what we're going through right now, with the Unelected Pedophile's policies)
Inflation was through the roof. Gasoline prices TRIPLED. Because of GOVERNMENT SPENDING which cause inflation, interest rates were crippling the economy. And there was a very dangerous Soviet Union about to take over the world.
Only a RETARD would look at that decade as anything but the WORST. (Although the Unelected Joe years are competing rather nicely in the economic disaster field.)
Here's the TRUTH.
https://www.heritage.org/taxes/report/the-real-reagan-economic-record-responsible-and-successful-fiscal-policy
President Ronald Reagan's record includes sweeping economic reforms and deep across-the-board tax cuts, market deregulation, and sound monetary policies to contain inflation. His policies resulted in the largest peacetime economic boom in American history and nearly 35 million more jobs.
HOW DID REAGAN'S POLICIES AFFECT ECONOMIC GROWTH?
Despite the steep recession in 1982--brought on by tight money policies that were instituted to squeeze out the historic inflation level of the late 1970s--by 1983, the Reagan policies of reducing taxes, spending, regulation, and inflation were in place. The result was unprecedented economic growth:
This economic boom lasted 92 months without a recession, from November 1982 to July 1990, the longest period of sustained growth during peacetime and the second-longest period of sustained growth in U.S. history. The growth in the economy lasted more than twice as long as the average period of expansions since World War II.10
The American economy grew by about one-third in real inflation-adjusted terms. This was the equivalent of adding the entire economy of East and West Germany or two-thirds of Japan's economy to the U.S. economy.11
From 1950 to 1973, real economic growth in the U.S. economy averaged 3.6 percent per year. From 1973 to 1982, it averaged only 1.6 percent. The Reagan economic boom restored the more usual growth rate as the economy averaged 3.5 percent in real growth from the beginning of 1983 to the end of 1990.12
And to be fair, I'll use other diverse sources. (Heritage may be several grades above the mentality of the blue state school dropout idiots here.)
https://www.cato.org/policy-analysis/supply-side-tax-cuts-truth-about-reagan-economic-record#
Real economic growth averaged 3.2 percent during the Reagan years versus 2.8 percent during the Ford-Carter years and 2.1 percent during the Bush-Clinton years.
Real median family income grew by $4,000 during the Reagan period after experiencing no growth in the pre-Reagan years; it experienced a loss of almost $1,500 in the post-Reagan years.
Interest rates, inflation, and unemployment fell faster under Reagan than they did immediately before or after his presidency.
The only economic variable that was worse in the Reagan period than in both the pre- and post-Reagan years was the savings rate, which fell rapidly in the 1980s. The productivity rate was higher in the pre-Reagan years but much lower in the post-Reagan years.
Let's see.
Reagan inherited a MISERY INDEX. (Kind of what we're going through right now, with the Unelected Pedophile's policies)
Inflation was through the roof. Gasoline prices TRIPLED. Because of GOVERNMENT SPENDING which cause inflation, interest rates were crippling the economy. And there was a very dangerous Soviet Union about to take over the world.
Only a RETARD would look at that decade as anything but the WORST. (Although the Unelected Joe years are competing rather nicely in the economic disaster field.)
Here's the TRUTH.
https://www.heritage.org/taxes/report/the-real-reagan-economic-record-responsible-and-successful-fiscal-policy
President Ronald Reagan's record includes sweeping economic reforms and deep across-the-board tax cuts, market deregulation, and sound monetary policies to contain inflation. His policies resulted in the largest peacetime economic boom in American history and nearly 35 million more jobs.
HOW DID REAGAN'S POLICIES AFFECT ECONOMIC GROWTH?
Despite the steep recession in 1982--brought on by tight money policies that were instituted to squeeze out the historic inflation level of the late 1970s--by 1983, the Reagan policies of reducing taxes, spending, regulation, and inflation were in place. The result was unprecedented economic growth:
This economic boom lasted 92 months without a recession, from November 1982 to July 1990, the longest period of sustained growth during peacetime and the second-longest period of sustained growth in U.S. history. The growth in the economy lasted more than twice as long as the average period of expansions since World War II.10
The American economy grew by about one-third in real inflation-adjusted terms. This was the equivalent of adding the entire economy of East and West Germany or two-thirds of Japan's economy to the U.S. economy.11
From 1950 to 1973, real economic growth in the U.S. economy averaged 3.6 percent per year. From 1973 to 1982, it averaged only 1.6 percent. The Reagan economic boom restored the more usual growth rate as the economy averaged 3.5 percent in real growth from the beginning of 1983 to the end of 1990.12
And to be fair, I'll use other diverse sources. (Heritage may be several grades above the mentality of the blue state school dropout idiots here.)
https://www.cato.org/policy-analysis/supply-side-tax-cuts-truth-about-reagan-economic-record#
Real economic growth averaged 3.2 percent during the Reagan years versus 2.8 percent during the Ford-Carter years and 2.1 percent during the Bush-Clinton years.
Real median family income grew by $4,000 during the Reagan period after experiencing no growth in the pre-Reagan years; it experienced a loss of almost $1,500 in the post-Reagan years.
Interest rates, inflation, and unemployment fell faster under Reagan than they did immediately before or after his presidency.
The only economic variable that was worse in the Reagan period than in both the pre- and post-Reagan years was the savings rate, which fell rapidly in the 1980s. The productivity rate was higher in the pre-Reagan years but much lower in the post-Reagan years.
