General Discussion
In reply to the discussion: What must it have been like to be a Democrat after the 1984 election? [View all]stevenleser
(32,886 posts)Reagan benefited from the end of the OPEC embargo resulting in a massive energy shock where oil and gas prices were cut in half which really sent the economy skyrocketing and so it appeared as if Supply side economics worked.
They have never appeared to work since and don't work.
But with that perception implanted in the minds of the voters, it was hard to beat Republicans for a while. The recession under George H. W. Bush started to make it clear to many people that supply side economics wasn't the success it had seemed to be.
Some folks still haven't learned that lesson though. But it is pretty self evident. We have had 20 years of Republican administrations trying supply side economics since 1980 and only 4-6 of those years have produced good economic growth.