Obama Obama Outperforms Reagan On Jobs, Growth And Investing

Discussion in 'Free Speech Alley' started by LSUMASTERMIND, Oct 28, 2014.

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  1. LSUAthletics

    LSUAthletics Founding Member

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    Reagan Economic Record

    Economic Growth.     The average annual growth rate of real gross domestic product (GDP) from 1981 to 1989 was 3.2 percent per year, compared with 2.8 percent from 1974 to 1981 and 2.1 percent from 1989 to 1995. The 3.2 percent growth rate for the Reagan years includes the recession of the early 1980s, which was a side effect of reversing Carter's high-inflation policies, and the seven expansion years, 1983-89. During the economic expansion alone, the economy grew by a robust annual rate of 3.8 percent. By the end of the Reagan years, the American economy was almost one-third larger than it was when they began. GDP growth per adult aged 20-64 in the Reagan years grew twice as rapidly, on average, as it did in the pre-Reagan years.

    Median Household Incomes. Real median household income rose by $4,000 in the Reagan years--from $37,868 in 1981 to $42,049 in 1989.

    Employment.     From 1981 through 1989 the U.S. economy produced 17 million new jobs, or roughly 2 million new jobs each year.

    Unemployment Rate. When Reagan took office in 1981, the unemployment rate was 7.6 percent. In the recession of 1981-82, that rate peaked at 9.7 percent, but it fell continuously for the next seven years. When Reagan left office, the unemployment rate was 5.5 percent. This reduction in joblessness was a clear triumph of the Reagan program.

    Inflation. The central economic evil that Ronald Reagan inherited in 1981 from Jimmy Carter was three years of double-digit inflation. In 1980 the consumer price index (CPI) rose to 13.5 percent. By Reagan's second year in office, the inflation rate fell by more than half to 6.2 percent. In 1988, Reagan's last year in office, the CPI had fallen to 4.1 percent.

    http://object.cato.org/sites/cato.org/files/pubs/pdf/pa261.pdf
     
    LSUAthletics, Oct 28, 2014
    #21
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  2. red55

    red55 curmudgeon Staff Member

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    What higher taxes are those?
     
    red55, Oct 29, 2014
    #22
  3. red55

    red55 curmudgeon Staff Member

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    Don't forget getting 400 Marines killed in Lebanon and then running.
     
    red55, Oct 29, 2014
    #23
  4. Tiger in NC

    Tiger in NC There's a sucker born everyday...

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    You've definitely had a few beers Tiga because this doesn't make any sense. The unemployment rate has been counted exactly the same for decades so it's not like there is some new formula that is making Obama's number look better. I just love how the Republicans always like to accuse Obama of cooking the books....it's just so infantile.

    Do you want to know why the disability roles are so high, Tiga? Not an entitlement minded President but a huge generation of people are starting to retire and their bodies are breaking down and they are having to go on disability to make it. It's a numbers game.....and it will get worse because the Boomers are still retiring and will be for another decade or so.
     
    Tiger in NC, Oct 29, 2014
    #24
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  5. gumborue

    gumborue Throwin Ched

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    all this and my medical insurance premiums havent increased in 2yrs.

    what i hate about b.o. though is that i no longer receive $1000 checks for nothing like i did regularly under W.
     
    gumborue, Oct 29, 2014
    #25
  6. red55

    red55 curmudgeon Staff Member

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    Conversely . . .

    Low taxes turned into successive tax cuts for the rich. Reagan believed in the voodoo of the Laffer Curve, that cutting top-end taxes would generate more revenue. One thing it generated was inequality. The great leveling that marked the post-Cold War years came to an end under Reagan, as the wealthiest Americans began capturing ever greater portions of the nation’s income. Today, the wealthiest 1 percent captures about 23 percent of the income, and control more wealth than the bottom 90 percent of Americans. This is the true Reagan legacy.

    Free trade was the label affixed to a trade policy defined by and for multinational companies and banks. Under Reagan, America began shipping jobs rather than goods abroad. When Reagan fired the PATCO strikers, he signaled to corporate America that it was open season on unions. The combination was lethal for America’s manufacturing base — and for the family wage that was the signature of America’s broad middle class.

    Strong military entailed doubling the defense budget during peacetime, wasting literally hundreds of billions of dollars on weapons we did not need and could not use, from reviving battleships to building new generations of missiles. The most notable folly was Reagan’s Star Wars fantasy, which continues to waste tens of billions each year, throwing money into a program that does not work against a threat that does not exist.

    Deregulation gutted consumer protection, environmental protection, workplace safety and the right to organize under Reagan. It led to many scandals that made his administration one of the most corrupt in history, with a record 138 officials investigated, indicted or convicted. But the biggest change was deregulation of banking, which led to successive financial wildings and crashes that have cost taxpayers literally trillions. The first was the Savings and Loan debacle that followed on Reagan’s reforms that empowered banksters to gamble with other people’s money, with their losses guaranteed by the federal government. Under the banner of conservatism, predatory corporate interests — Big Oil, Big Pharma, Wall Street, global corporations, agribusiness — have fleeced taxpayers while feathering the nests of the few.

    http://ourfuture.org/20110201/the_reagan_ruins
     
    red55, Oct 29, 2014
    #26
  7. Bengal B

    Bengal B Founding Member

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    I wondered whether you were on crack yourself. Now I know. If you are worried about being given a longer sentence for smoking crack than snorting powder it makes it pretty obvious.
     
    Bengal B, Oct 29, 2014
    #27
  8. mancha

    mancha Alabama morghulis

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    Your obvious irrational hatred has you thinking unclear.

    Reagan took that photo op with Afghan opposition leaders to show the Russians our strong support for anything that opposes them. Some of those ties formed then opposed the Taliban when it grew and helped our troops out in Afghanistan in the latest war. Taliban did not form until the 90's. They grew out of a subgroup of mujahideen fighting the Russians in Afghanistan. The Taliban are a result of Pakistan trained mujahideen fighters.

    Trace it for me conspiracy theorist.

    You can trace the inception of Al Qaeda to The Soviet-Afghan War, Desert Storm, and Bin Laden's goal of conquering the world for God's religion. Not one man.
     
    mancha, Oct 29, 2014
    #28
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  9. mancha

    mancha Alabama morghulis

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    LaSalle seems is a usually calm guy until Reagan's name gets brought up.
     
    mancha, Oct 29, 2014
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    Bengal B likes this.
  10. red55

    red55 curmudgeon Staff Member

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    Little bit of hash oil will fix that right up.
     
    red55, Oct 29, 2014
    #30
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