Wednesday, February 18, 2009

Reagan vs Obama Round 2

To return to a theme I'm going to harp on until even Chris Matthews recognizes it is the fact that this IS NOT the worst economy since the GREAT DEPRESSION. As I posted earlier it's distant second

As stated in the latest analysis of the last 6 Presidents economic policy's President Reagan REALLY inherited a TERD of an economy from failed home builder Jimmy Carter

From Today's Washington Times

President Reagan inherited an economic situation even worse than the one President Obama has. When Reagan took office, the economy had been in recession for about a year, the unemployment rate was almost identical to today's, but the labor force participation rate was smaller, and inflation was out of control. At the time, the newspapers were filled with stories about the "worst economy since the Great Depression" - which, unlike today, was true, and the economic establishment seemed to be bereft of ideas of what to do.

The fact of the matter is we have recent history to go by in this time of uncertainty. President Obama chose a path that President Reagan DID NOT, Raising Taxes to Tax cuts. We will find out what happens in 12 months but for those who study HISTORY we know what will happen.

To read the rest of the Times story click right here

No comments: