CARTER GREW THE ECONOMY MUCH BETTER THAN REAGAN Post #5279 • Liberal Forum

Cannonpointer » 18 Feb 2014 6:07 pm » wrote: No you haven't - and you won't, because he didn't.

Show us one shred of evidence - or just harrumph and claim you did, in another thread, on another day.

So what does the following mean?

The achievement of Reaganomics can only be fully understood by recalling the miserable state of affairs a quarter-century ago. Newsweek summarized the national mood when it wrote in 1981 that Reagan "inherits the most dangerous economic crisis since Franklin Roosevelt took office 48 years ago."

That was no exaggeration. The economy was enduring a cycle of rising inflation with growing levels of unemployment. Remember 20% mortgage interest rates? Terms like "stagflation" and "misery index" entered the popular vocabulary, and declinists of various kinds were in the saddle....

The reigning Keynesian policy consensus had no answer for this predicament, and so a new group of economic ideas came to the fore.
http://online.wsj.com/news/articles/SB1 ... d_outlooks