A Fresh Look At Reagonomics - CBS

[dArKeR]

In 1980, Ronald Reagan ran for president promising to radically rethink economic policy. But even in his own party, there were doubts about the plan.

"What I call a voodoo economic policy,'' said George Bush in 1980.

The U.S. economy was in recession, inflation had hit 15 percent and interest rates nearly 20 percent.

http://www.cbsnews.com/stories/2004/06/08/eveningnews/main621915.shtml

[huellewig]

1. I'm a huge fan of Reagonomics..

My Visa bill is in the name of my sisters kid. We have the same name and I know his SS number. Sears and Mastercard too.

[Pale Blue Dot]

4. It took me a second...

but that is a very good post. :thumbsup:

[papau]

2. A bunch of lies - the date of the recession - theGDP growth Carter vs

Reagan (the same 3.3% over their 4 and 8 year terms

the Reagan recession was caused/deepened by the Reagan tax cuts passed Aug 81. 14 months of hell

[ramapo]

3. Pappy was right about one thing

"Voodoo Economics" was probably the most insightful phrase that Pappy ever spoke. Too bad he doesn't get more credit for it but then he signed on to become a lead practioner of the art of fanciful economic policy.

It is simply amazing how many bought into the Reagan fantasy.

[oscar111]

5. 24 years of trickledown and wages are lower

Accurate? I think i read wages are now a bit less than when RR began as misruler.

This is the best short answer to freepers i can think of.

Any better short answer on Reaganomics?