forestal
I'm the Boss of Me
For the ill-informed who worship a false idol...
American Politics Journal -- The Real Reagan Legacy
<img src="http://www.americanpolitics.com/reaganDOH.gif"/>
Which brings us to myth number two: Jimmy Carter wrecked the economy, and Reagan's bold tax cuts saved it.
This is utterly absurd. Economic growth indices -- GDP, jobs, revenues -- were all positive when Carter left office. All plunged after Reagan policies took effect.
Reagan didn't cure inflation, the main economic problem during the Carter years. Carter's Federal Reserve Chairman Paul Volcker tried when he raised interest rates. That's the opposite of what Fed Chairman Alan Greenspan has done to keep inflation low.
Carter's policies and people fought inflation, but maintained real growth. On the other hand, Reagan's policies helped cause the worst recession since the Great Depression: two bleak years with nearly double-digit unemployment! Reaganomics failed in less than a year, and it took an entire second year for the economy to recover from the failure.
Carter didn't cause the inflation problem, but his tough policies and smart personnel solved it. Unfortunately for Carter, it took too long for the good results to kick in. Not only didn't Reagan help whip inflation, he actually opposed the Volcker policies!
Another major myth: Reagan cut taxes on all Americans, and that led to a great expansion.
Here's the truth: the total federal tax burden increased during the Reagan years, and most Americans paid more in taxes after Reagan than before. The "Reagan Recovery" was unremarkable. It looks great only contrasted against the dismal Reagan Recession -- but it had nothing to do with Supply Side voodoo.
With a red ink explosion -- $300 BILLION deficits looming as far as the eye could see -- GOP Senators, notably including Bob Dole, led the way on tax hikes. The economy enjoyed its recovery only after total tax increases larger than the total tax cuts were implemented. Most importantly, average annual GDP growth during the Reagan 80s was lower than during the Clinton 90s or the JFK-LBJ 60s!
Enough about the economy. Here's the biggest myth of them all: Ronald Reagan won the "Cold War".
In reality, Reagan did nothing to bring down the Soviet Union.
By 1980, the Soviet Union was trying to cut its own defense spending. Reagan made it harder for them to do so. In fact, Reagan increased the possibility of a nuclear war because he was -- frankly, and sadly -- senile. He thought we could actually recall submarine-launched nuclear missiles (talk about a Reagan myth), and bullied the Soviets to highest alert several times.
Critically, Reagan never even tried to bring down the Soviet Union.
Wasteful overspending on defense didn't end the Soviet Union. In fact, it played into the hands of authoritarian "Communist" hard-liners in the Kremlin. Reagan thought the Soviet Union was more powerful than we were. He was trying to close what he called "the window of vulnerability."
American Politics Journal -- The Real Reagan Legacy
<img src="http://www.americanpolitics.com/reaganDOH.gif"/>
Which brings us to myth number two: Jimmy Carter wrecked the economy, and Reagan's bold tax cuts saved it.
This is utterly absurd. Economic growth indices -- GDP, jobs, revenues -- were all positive when Carter left office. All plunged after Reagan policies took effect.
Reagan didn't cure inflation, the main economic problem during the Carter years. Carter's Federal Reserve Chairman Paul Volcker tried when he raised interest rates. That's the opposite of what Fed Chairman Alan Greenspan has done to keep inflation low.
Carter's policies and people fought inflation, but maintained real growth. On the other hand, Reagan's policies helped cause the worst recession since the Great Depression: two bleak years with nearly double-digit unemployment! Reaganomics failed in less than a year, and it took an entire second year for the economy to recover from the failure.
Carter didn't cause the inflation problem, but his tough policies and smart personnel solved it. Unfortunately for Carter, it took too long for the good results to kick in. Not only didn't Reagan help whip inflation, he actually opposed the Volcker policies!
Another major myth: Reagan cut taxes on all Americans, and that led to a great expansion.
Here's the truth: the total federal tax burden increased during the Reagan years, and most Americans paid more in taxes after Reagan than before. The "Reagan Recovery" was unremarkable. It looks great only contrasted against the dismal Reagan Recession -- but it had nothing to do with Supply Side voodoo.
With a red ink explosion -- $300 BILLION deficits looming as far as the eye could see -- GOP Senators, notably including Bob Dole, led the way on tax hikes. The economy enjoyed its recovery only after total tax increases larger than the total tax cuts were implemented. Most importantly, average annual GDP growth during the Reagan 80s was lower than during the Clinton 90s or the JFK-LBJ 60s!
Enough about the economy. Here's the biggest myth of them all: Ronald Reagan won the "Cold War".
In reality, Reagan did nothing to bring down the Soviet Union.
By 1980, the Soviet Union was trying to cut its own defense spending. Reagan made it harder for them to do so. In fact, Reagan increased the possibility of a nuclear war because he was -- frankly, and sadly -- senile. He thought we could actually recall submarine-launched nuclear missiles (talk about a Reagan myth), and bullied the Soviets to highest alert several times.
Critically, Reagan never even tried to bring down the Soviet Union.
Wasteful overspending on defense didn't end the Soviet Union. In fact, it played into the hands of authoritarian "Communist" hard-liners in the Kremlin. Reagan thought the Soviet Union was more powerful than we were. He was trying to close what he called "the window of vulnerability."
No mention of Carter's disastrous Middle East policies, and how the Mullahs in Iran released the US hostages the very day RR was inaugurated. Co-inkydinky? 
I like that link and I agree with the info so much that I plan to add the link to my campaign website.
It is a mistake for this Texican to think other people are as shallow as he (or she).
Reagan was also the inventor of the super massive federal debt.
