Quote:
Originally Posted by wordsmythe  Reganomics didn't work when he was alive. |
Reaganomics...
*Inflation averaged 12.5 percent when Reagan entered office, was reduced to 4.4 percent when he left.
*Interest rates fell six points.
*Eight million new jobs were created as unemployment fell.
*An eight percent growth in private wealth.
*The primary reason the deficit grew during the Reagan years was the Cold War military buildup.
*Between 1978 and 1981 the top capital gains rate was cut from 35 percent to 20 percent and revenues soared by 90 percent in real terms between 1978 and 1985.After Congress lifted the rate to 28 percent in 1986, capital gains revenues declined by 20 percent by 1990.
*The average annual growth rate of real gross domestic product (GDP) from 1981 to 1989 was 3.2 percent per year, compared with 2.8 percent from 1974 to 1981 and 2.1 percent from 1989 to 1995. The 3.2 percent growth rate for the Reagan years includes the recession of the early 1980s, which was a side effect of reversing Carter's high-inflation policies, and the seven expansion years, 1983-89.
*When Reagan took office in 1981, the unemployment rate was 7.6 percent. In the recession of 1981-82, that rate peaked at 9.7 percent, but it fell continuously for the next seven years. When Reagan left office, the unemployment rate was 5.5 percent.
*Real median family income grew by $4,000 during the Reagan period after experiencing no growth in the pre-Reagan years; it experienced a loss of almost $1,500 in the post-Reagan years.
You are right Wordy...Reaganomics was a total failure. We should have just had another 4 years of the Democrat Jimmy Carter....