President Obama often asks the voters to understand that he inherited a very bad economy, and he did. But in many ways it was not as bad as the economy Reagan inherited from Carter.
On Reagan’s Election Day in 1980, unemployment was at 7.5 percent and headed for 10.8 percent; inflation was at 12.5 percent, headed for 13.6 percent, and interest rates were at 15.5 percent, headed for 21.5 percent by Christmas, well before Reagan was sworn in.
Obama inherited an unemployment rate of 6.8 percent and no inflation problem. Inflation was only 1.1 percent in comparison to the crushing 21.5 percent left by Carter. By the time Reagan was sworn in in January business men, farmers and home buyers (if you could find one) were paying 23 to 24 percent interest rates on loans.
Reagan wasted no energy on blaming Jimmy Carter. He approached the problem by lowering marginal tax rates in gradual steps over three years. He eased the regulatory burden on businesses, making it simpler to open or expand a business. His infectious optimism reminded people “the best is yet to come.” America was still “the shining city on the hill,” and Reagan reversed the country’s mood from a Carter-induced “malaise” to a can-do spirit.
In stark contrast, Obama did just the opposite with predictable results. He increased the regulatory environment increasing the cost and difficulty of opening or expanding a business. He introduced new law burdening business with new costs that are significant and beyond measurability at the same time. He fought for a return to higher taxes before acquiescing. Obama made his belief clear that America never was a shining city on a hill; it was a country in need of complete transformation. For America’s leader to wear a flag pin on his lapel was to honor a nation that was undeserving of such respect, a country that was in no way exceptional.
Reagan’s policies worked. By the end of his first term, inflation was down, employment was up, the economy was in good shape again and the mood of the nation had gone from morose to bright and cheery. In the bid for a second term, Reagan won every state with the sole exception of Minnesota.
Today we are where we are because of the president we picked in 2008, not because of what he inherited.
This post was adapted on an article by Peter Hegseth.
President Reagan believed in the greatness of America as a nation and the can-do spirit of the American people. Obama believes America is a nation with an eroded foundation whose people have become lazy and unable to manage for themselves.
President Reagan restored the economy that had begun to slip under his predecessor Jimmy Carter, and he gave the credit for the recovery to the resilience of the American people. Obama has not restored the economy he inherited and offers only accusations and excuses for his own failure to do so.
One man was an inspirational leader from the start, as head of the Screen Actors Guild, to Governor of California and then as President. The other man was an agitator from the start, as a community organizer and then an ACORN lawyer and is still is an agitator as President.
But both men have their own brand of greatness. One is known as The Great Communicator, the other The Great Divider.
Happy Birthday, Ron
I feel small, valiant but very small. I have been reading the tributes to President Ronald Reagan. I watched a video of his speech at the Brandenburg Gate. I stand with him in his beliefs and the things he said. I look up to him. He was a giant. That’s why I feel so small.
The spirit he imbued in us, still lies within us. It is the American spirit. The merit of this great nation in which he so deeply believed, was sorely in need of restoration when Reagan took office. Vietnam, Nixon and nearly 50 years of Democratic congressional control had taken their toll. Our spirit needed renewal and renewed it was. Reagan would be the last to take credit for it. It was the American people who made it happen. He was but the spark, we were the fire.
This time it was more like spontaneous combustion. No matter, it’s the fire that counts, not how it started. Stand proud and speak loud. We must keep the fire that energizes the great light that Reagan saw so clearly shining high up on a hill.
Before you go, take a moment to visit “Tear Down This Wall” at the PowerLine blog. There you will find an interesting true story behind that famous line in the Brandenburg speech.
In “Kagan on Reagan” a certain sagacious blonde quotes Supreme Court nominee Elena Kagan as having written of Ronald Reagan’s election that “the world has gone mad, liberalism is dead and that there is no longer any place for the ideals we held or the beliefs we espoused”. The lady, (Kagan, not the blonde) is no moderate. She is a true believer in the progressive theme.
Bye the way,” progressive”, that’s propagandic for regressive of course.
If I were you, I would take a cue from Mae West and go up and see this blonde sometime. You will see a nice set of articles if you do. The key to her room is http://mobyrebuttal.blogspot.com/ .
Next. I noticed the New Yorker magazine has something to say about Tocqueville in America in the latest issue. In 5 or 6 pages they managed to make Christianity look pretty silly but didn’t find space available to print his rather timely statement that “America will last until the populace discovers it can vote for itself largess out of the public treasury”.
Finally. It seems Obama is dissing America by proxy now. Assistant Secretary of State Michael Posner has been assigned the duty of urging the Chinese to improve their humanitarian policies. He led the discussions by volunteering that Arizona’s new illegal immigration policy is a violation of basic human rights. Somehow I don’t think murdering dissidents is the same thing as enforcing laws on illegal immigration. What is it about this administration that causes them to think negotiations will be more fruitful if you humiliate yourself at the outset?