All the Republicans are offering, President Obama tells us over
and over, are the same old, failed policies that got us into this
mess in the first place. At the Democrat convention, Obama told us
about the Republican economic plan, "all they have to offer is the
same prescription they've had for the last thirty years."
And who was President 30 years ago? That would be Ronald Wilson Reagan. So you see, Obama is attacking not just the Bush but the Reagan tax rate cuts as well, the 25% across the board rate cuts for everyone known at the time as Kemp-Roth.
The American people lived through this most successful economic experiment in world history. But Obama is betting the American people don't know what they lived through in this recent history. Most of us, in fact, were not adults 30 years ago, so maybe Obama is right, the American people of today have no idea what happened 30 years ago. Obama is telling them today that it has been one long period of decline. And no one, not even the conservatives or the supply-siders, is taking him on directly. As a result, this has been a cutting, effective argument for Obama in this campaign.
Ancient History: Jimmy Carter and the 1970s By 1981, when Reagan entered office, America was suffering its third year of double digit inflation, after a decade of accelerating inflation. Double digit interest rates too, with double digit unemployment on its way the very next year, in the fourth recession since 1969.
Read more: http://spectator.org/archives/2012/09/26/perpetuating-falsehoods
And who was President 30 years ago? That would be Ronald Wilson Reagan. So you see, Obama is attacking not just the Bush but the Reagan tax rate cuts as well, the 25% across the board rate cuts for everyone known at the time as Kemp-Roth.
The American people lived through this most successful economic experiment in world history. But Obama is betting the American people don't know what they lived through in this recent history. Most of us, in fact, were not adults 30 years ago, so maybe Obama is right, the American people of today have no idea what happened 30 years ago. Obama is telling them today that it has been one long period of decline. And no one, not even the conservatives or the supply-siders, is taking him on directly. As a result, this has been a cutting, effective argument for Obama in this campaign.
Ancient History: Jimmy Carter and the 1970s By 1981, when Reagan entered office, America was suffering its third year of double digit inflation, after a decade of accelerating inflation. Double digit interest rates too, with double digit unemployment on its way the very next year, in the fourth recession since 1969.
Read more: http://spectator.org/archives/2012/09/26/perpetuating-falsehoods
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