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Under Reagan the Median Family Income went up...for WHOM?
The Reagan administration did not shrink the size of the federal government, it changed the ways that Washington collected and spent its money, by reducing taxes on the affluent, cutting some social programs and increasing military spending.
These policies ended up magnifying income inequality, which was already rising for other reasons. Since 1980, median household income has risen only 30 percent, adjusted for inflation, while average incomes at the top have tripled or quadrupled.
Yanno, the New York Times has zero cred with me. After they pulled that little stunt about Benghazi, they lost a lot of respect. Also, do you think I'm dumb enough not to notice the title of that article? This is a progressive giving his opinion of what Reagan did. In this four year old article, the author refers to Obama as "the liberal answer to Ronald Reagan." That's weaksauce, and desperation on your part.
Should you derive your facts from more objective sources, let me know.
Hey pea brain, maybe we should give 'cred' to Peter J. Ferrara who admitted that he "took money" from Jack Abramoff "to write op-ed pieces boosting the lobbyist's clients?
Every time I take a dump I wipe my butt with liberal paper.
every time i take a dump i wipe my butt with liberal paper.
every time i take a dump, i give birth to another liberal.., but with a quick flush..., they die
Liberals love to give out money to help other people..................
Problem is they give out other people's money..........................
Liberals believe in 'tax and spend' government. PAY as you go. Conservatives, starting with the great socialist Ronald Reagan, believe in 'BORROW and spend' government. Borrow and burden future generations with the bill that was run up on the Beijing credit card.
The results are in...the Reagan revolution was as big of a failure of ideology as the other great failure of the 20th century...the Bolshevik revolution.
"The debt explosion has resulted not from big spending by the Democrats, but instead the Republican Party's embrace, about three decades ago, of the insidious doctrine that deficits don't matter if they result from tax cuts."
David Stockman - Director of the Office of Management and Budget for U.S. President Ronald Reagan.
:
Every time I take a dump I wipe my butt with liberal paper.
every time i take a dump, i give birth to another liberal.., but with a quick flush..., they die
Under Reagan the Median Family Income went up...for WHOM?
Every time I take a dump I wipe my butt with liberal paper.
every time i take a dump, i give birth to another liberal.., but with a quick flush..., they die
That's a bit much, Wildman. Please, that was disgusting and uncalled for.
every time i take a dump, i give birth to another liberal.., but with a quick flush..., they die
That's a bit much, Wildman. Please, that was disgusting and uncalled for.
"disgusting" ?? that is exactly what liberturds are...., totally disgusting !
i do not tell you how and what you post, so stay out of what i post
Carter caused Stagflation, Bfgrn. Energy policy and economic policy have nothing to do with one another. By clamping down on the money supply via the Federal Reserve Board he planted the seeds of a recession. He refused to resupply the economy with the money it needed and caused it to fall into a big recession.
But the most important element in the war against inflation was the Federal Reserve Board, which clamped down hard on the money supply beginning in 1979. By refusing to supply all the money an inflation-ravaged economy wanted, the Fed caused interest rates to rise. As a result, consumer spending and business borrowing slowed abruptly. The economy soon fell into a deep recession.
Stagflation in the 1970s
Carter caused Stagflation, Bfgrn. Energy policy and economic policy have nothing to do with one another. By clamping down on the money supply via the Federal Reserve Board he planted the seeds of a recession. He refused to resupply the economy with the money it needed and caused it to fall into a big recession.
But the most important element in the war against inflation was the Federal Reserve Board, which clamped down hard on the money supply beginning in 1979. By refusing to supply all the money an inflation-ravaged economy wanted, the Fed caused interest rates to rise. As a result, consumer spending and business borrowing slowed abruptly. The economy soon fell into a deep recession.
Stagflation in the 1970s
The narrative is wrong, however, for thoroughly documentable reasons. First, it was Carter not Reagan who appointed Volcker a full 14 months before Reagan became president. Carter knew that Volcker would raise rates sharply probably causing a recession but told his counselors who advised against the appointment to let him worry about the politics.
The Federal Funds rate was 11 percent when Carter appointed Volcker in August 1979. By the time Reagan took office in January 1981, Volcker had pushed the rate to 20 percent (the prime was 21 percent) and rates never went higher. So contrary to the mythology, Carter took the political risks not Reagan. Indeed during the first year of Reagan's administration Volcker brought the Federal Funds rate down from 20 to 12 percent, and pushed it down to 8.5 percent by the end of 1982. It took no political fortitude on Reagan's part to tolerate a 60 percent decline in rates over his first two years.
Bernanke's replacement also should understand that the Fed role in ending inflation three decades ago has been significantly exaggerated. A bigger factor over the 30 year period has been more intense competition in large sectors to the American economy as a result of legislation Carter pushed through.
Carter took on bruising political fights with Congress to end price fixing by airlines (1978) and trucking companies and railroads (1980). He opened the auto and steel industries to more intense competition (1980), as well as oil, natural gas, and electricity (1978) with the same anti-inflationary results. These were political fights in Congress against powerful interests that Reagan never had to take on.
Paul A. London: Inflation: The Reagan Myth and Carter Record
Carter caused Stagflation, Bfgrn. Energy policy and economic policy have nothing to do with one another. By clamping down on the money supply via the Federal Reserve Board he planted the seeds of a recession. He refused to resupply the economy with the money it needed and caused it to fall into a big recession.
Stagflation in the 1970s
The narrative is wrong, however, for thoroughly documentable reasons. First, it was Carter not Reagan who appointed Volcker a full 14 months before Reagan became president. Carter knew that Volcker would raise rates sharply probably causing a recession but told his counselors who advised against the appointment to let him worry about the politics.
The Federal Funds rate was 11 percent when Carter appointed Volcker in August 1979. By the time Reagan took office in January 1981, Volcker had pushed the rate to 20 percent (the prime was 21 percent) and rates never went higher. So contrary to the mythology, Carter took the political risks not Reagan. Indeed during the first year of Reagan's administration Volcker brought the Federal Funds rate down from 20 to 12 percent, and pushed it down to 8.5 percent by the end of 1982. It took no political fortitude on Reagan's part to tolerate a 60 percent decline in rates over his first two years.
Bernanke's replacement also should understand that the Fed role in ending inflation three decades ago has been significantly exaggerated. A bigger factor over the 30 year period has been more intense competition in large sectors to the American economy as a result of legislation Carter pushed through.
Carter took on bruising political fights with Congress to end price fixing by airlines (1978) and trucking companies and railroads (1980). He opened the auto and steel industries to more intense competition (1980), as well as oil, natural gas, and electricity (1978) with the same anti-inflationary results. These were political fights in Congress against powerful interests that Reagan never had to take on.
Paul A. London: Inflation: The Reagan Myth and Carter Record
Thank you for posting what really happened.
But you know the rethugs on here will not accept the truth. It just doesn't fit in their Reagan fantasy very well. Rethugs on here prefer to just make shit up. Or lie. Or ignore what really happened. Whatever gets them through the night. And day.
I thought boob jobs were covered under the ACA!!???
I recall a very wealthy woman telling me, when Reagan was elected, "the good life is back".Bfgrn:
Under Reagan the Median Family Income went up. Not just for the rich, but for everyone. You're attempting to paint Reagan as someone who didn't care about the poor. If he indeed favored the rich, why is it he raised taxes so many times during his presidency? Were you one of Reagan's opponents during the recession leading up to his second term, you would have used the same tactic and it did appear that way for a time. But as it so happened, he engineered one the more prosperous eras in American history. But what I find funny is, Clinton did the same thing, but we don't hear people like you accusing him of favoring the rich now do we?
Under Reagan the Median Family Income went up...for WHOM?
The Reagan administration did not shrink the size of the federal government, it changed the ways that Washington collected and spent its money, by reducing taxes on the affluent, cutting some social programs and increasing military spending.
These policies ended up magnifying income inequality, which was already rising for other reasons. Since 1980, median household income has risen only 30 percent, adjusted for inflation, while average incomes at the top have tripled or quadrupled.
Which isle is he supposed to build consensus across? Malta?1. I'll have the most transparent administration.
2. I'm gonna close gitmo
3. I will pass comprehensive immigration reform in my first year.
4. I will rein in the overreach of the executive branch.
5. I will work across the isle to build concensus
6. If you like your insurance you can keep it. Period
7. Red lines have consequences
8. Obama isn't a liberal
9. Obama had a real job prior to the Senate
10. Obama has been a good president
