Did Reaganomics really work?

[Mott the Hoople]

It worked great for me and the overall economy.

Not as well as it did under Clinton.

 

[Cypress]

Did Reaganomics really work?

No.

Not if you were middle class, in a union, poor, a minority, or a woman. Or gay.

The plutocrats and the affluent were loving it.

Reagan was a tool, a dunce, and an asshole. Period.

 

[Topspin]

Not as well as it did under Clinton.

you get a cookie for that,
Let's hope Obama tops Clinton

 

[Topspin]

No.

Not if you were middle class, in a union, poor, a minority, or a woman. Or gay.

The plutocrats and the affluent were loving it.

Reagan was a tool, a dunce, and an asshole. Period.

If you were middle class like me and investing you made out big time

 

[Topspin]

but I agree on him being a tool if not the biggest tool

 

[FUCK THE POLICE]

Let's be careful here and not credit Reagan for bringing inflation under control. That would not be accurate. Inflation was never really a problem under Reagan. The period of high unemployment and high inflation rates began under the Nixon administration and continued under Ford and reached a zenith under Carter when the prime rate hit 21.5%, the highest in American history. The problem with inflation was brought under control when Carter appointed Paul Voeckler as Chairman of the Federal Reserve. Voeckler viewed bringing down inflation as a mandate and he was succesful through implementing tight monetary policy at the Fed though there was an unpleasant transition when the economy slowed and unemployment increased before inflation was brought under control. It was this transition phase in monetary policy, which though ultimately succesful that cost Carter dearly politically but the point being, this had all occurred before Reagan was even elected.

Yeah, I agree. Bringing inflation under control was not in any way a vindication of Reaganomics. Economists just developed some truly terrible ideas about inflation vs. unemployment in the 60's, and it was Volker, not Reagan, who fixed the problem. The inflation wasn't caused by government spending, it was caused by lose monetary policy. Reagan's cut taxes mantra clearly did not do much good at all for the economy, even as he was running up massive deficits to do it (which costs us in future economic growth, so his economic record is actually negative if you look at it like that).