Posted by MoparNorm on Saturday, June 05, 2004 at 11:40PM :
In Reply to: great guy and a gent at that,,but all i remember is the recessio posted by guess who this is norm on Saturday, June 05, 2004 at 11:20PM :
That's the Jimmy Carter recession that you remember, "The Great Malaise". The Carter interest rates topped out at 21%. Reagan cut taxes from a top rate of 89% down to 28%, and the economy boomed, it boomed so much that even clinton was able to ride the Reagan economy's coat tails and take undue credit for it. When the Clinton recession hit in 2000, President George Bush knew what to do, dust off the Reagan economic plan and cut taxes again, it works every time it is tried, even John Kennedy knew that. In spite of the War, 9-11 and increased social spending, the economy is now rolling again, 250,000 new jobs last month, nearly 2 million jobs created since the Fall of last year, Reagan's legacy to us and a model for our other principaled President, George W. Bush.
MN
Follow Ups: