So unemployment under Reagan went from 7.6% the summer after innauguaration to 9.8% and stayed there for 2 years.
Didn't Obama also have the unemployment rate rise a couple percent and stay there during his first 2 years? So if it was a bad thing for Reagan, then it's also a bad thing for Obama too!!
Piss
Well, as usual, you have your numbers wRoNg, but what else is new, eh?
Thats been my point moreluck all along. You die hard fantasy island fans want to hold Reagan up as if he was some kind of presidential hero, but in todays GOP, REAGAN wouldnt pass as a republican. His numbers were attrocious.
When Carter left office, unemployment was at 7.1%, but in the middle years, unemployment was in the low 5's, thats right, the low 5's. Carter failed to control inflation and the country spiraled out of control. When he left office, Carter left the nation with a 59 billion dollar deficit.
Reagan takes over and his unemployment rate SHOT to 10.7% (higher than OBAMA) and came down slowly over the remaining years of his term. ON his last day in office, Reagan had unemployment down to 6.2% but left a GINORMOUS deficit of 3.7 trillion dollars on the backs of the american taxpayer.
""President Reagan, as well as Bush I and II, insisted that deficits didn't matter as long as the proceeds were used for tax cuts that were supposed to stimulate
savings and investment. The policy failed utterly. Savings and investment rates fell, despite the lower tax rates. America became increasingly reliant for its
investment capital on borrowing from abroad. But this deficits-don't-matter theology liberated Republicans from their previous stance as the fiscally
responsible party.""
Ronald Reagan on Budget & Economy
Reagan was no hero to the american public, he was a man of the rich, the very rich. Reagan and Obamas unemployment rates are very similiar and Reagan was able to secure re-election with a 9% unemployment rate!
Reagan vs. Obama: Unemployment | Reflections of a Rational Republican
OBAMA had a giant hole to crawl out of after BUSH left office and only those on fantasy island seem to think otherwise, and so far, he's done a great job of doing so.
Sure, like Reagan, theres a long way to go, but like Reagan, it will take 4 more years to get us there. Remember, Reagan started his first day in office with a 7.1% unemployment rate and went up to 10.7% in two years. Obama started at 7.8% and went to 10.1% and its coming down just like Reagan. Reagan was NEVER able to match Carters best unemployment rates of mid 5's during any point in his 8 years. Time will tell if OBAMA can get it right over the next 4 years.
I still have his back.
Peace
TOS