Quote:
Originally Posted by saden1
LOL....that sad part is Reagan had a worse budget deficit spending problems than Obama but you seem to see his spending as an asset yet when Obama does it it's going to be the end of us all. Maybe, just maybe "Obama's policies [take] a while but [they'll turn] the economy around and [lead] to good economic times?"
Even worse, Obama gets flack for talking to the Russians in implementing a "do as I do" policy and supporting a democratically elected president who was ousted by a military coup d'etat (I really can't remember the last time a military coup was a good thing) but Reagan with his Iran Contra Affair made America feel good again.
Weak, very weak!
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What's weak my friend, is your analysis here. Reagan cut taxes and allowed the free market to work, Obama is increasing taxes and increasing gov't control/intervention in the economy. This economic strategy does not improve an economy. Instead of spending $ 4 per week on the Mega Millions lottery, I'll spend $ 400 per week and maybe, just maybe, I'll win.
Here's some facts about the economy under Reagan:
-During the Reagan presidency, an average of 1.7 million jobs
per year were created, as opposed to only 1.2 million jobs per
year from 1990-95 (Cato Institute Analysis No.261; Economic
Report of the President, 1996)
-When Reagan took office the unemployment rate was 7.6%. When he
left office the unemployment rate was 5.5% (Cato Institute
Analysis No.261; Economic Report of the President, 1996)
-Charitable contributions increased 57% during the 80s, from $65
billion in 1980 to $100 million in 1989 (American Enterprise,
Sept-Oct ’91)
-The rate of U.S. manufacturing productivity tripled during the
1980s (U.S. Commerce Department)
-The Stock Market rose from 777 to 3,000 points during Reagan’s
presidency, even after the crash of 1987. (Almanac of U.S.
History)
-The national deficit was approx. 2.6% of the U.S. GNP when
Reagan entered office, and only 2.8% of the GNP when he left
(Congressional Budget Office) All while bankrupting and bringing down the Soviet Union.
-Middle class families earning between $20,000-$50,000/year had
a 28% growth in net worth during Reagan’s time in office
(National Review, April 18, 1994)
-Inflation went down during Reagan’s time in office. In 1980 the
CPI (Consumer Price Index) was 13.5, and in 1984 it dropped to
4.3, and eventually to 4.1 by 1988. (Economic Report of the
President, January, 1993)
-In 1981, the beginning of Reagan’s presidency, the top 5% of
wage earners paid 35% of federal income taxes, while the bottom
50% paid 8%. By 1988, the end of Reagan’s presidency, the top
5% paid 46% of the federal taxes, while the bottom 50% paid 6%
(Joint Economic Committee, 1990) A rising tide lifts all boats.
-20 million new jobs were created during the Reagan presidency
(U.S. Statistical Abstract)
Of these 20 million new jobs:
-The average hourly wage was $10/hr.
-46.1% were over $28,048/yr, and another 46.2% were from
$7,012-$28,048/yr, while only 6% were under $7,012/yr.
-During the Carter administration (1977-80), of the new jobs
created, 41,77% were under $7,012, 68.2% were in the $7,012-
$28,048/yr bracket, and 9.9% of the pre-existing jobs in the
$28,048 and up bracket were actually lost (Joint Economic
Committee, based on data from Bureau of Labor Statistics, U.S.
Department of Labor)
I never said Iran/Contra made people fell better, but getting the hostages home was the right thing to do. According to the special prosecutor, Reagan was found not involved in any wrong-doing.
-Lawrence Welsh, special prosecutor of the Iran-Contra scandal,
concluded that Ronald Reagan was not responsible for any
deflection of funds to the Contras or otherwise (D’Souza,
Ronald Reagan…p. 204)
The Russians don't keep their word and only negotiate what's in their best interest, not ours. Putin is an old Cold warrior. They won't reduce their nuclear arsenal and we'll never be able to verify it anyway. Also, as firstdown mentioned, Zelaya was trying to seize more power in violation of the Honduran constitution, courts and congress. The coup was approved by the other branches of the Honduran gov't.