55
   

AMERICAN CONSERVATISM IN 2008 AND BEYOND

 
 
Foxfyre
 
  1  
Reply Thu 12 Mar, 2009 11:29 am
@Walter Hinteler,
Walter Hinteler wrote:

That's common here since more than 130 years ... (but not always looked at during all the years).


Well that could certainly explain why you seem to trust your elected leaders more than we trust ours. I certainly think we could learn something from that.
ican711nm
 
  0  
Reply Thu 12 Mar, 2009 11:37 am
@ican711nm,
Quote:

http://www.yale.edu/lawweb/avalon/federal/fed.htm
THE FEDERALIST PAPERS
http://avalon.law.yale.edu/18th_century/fed41.asp
No. 41
Madison
...
Some, who have not denied the necessity of the power of taxation, have grounded a very fierce attack against the Constitution, on the language in which it is defined. It has been urged and echoed, that the power "to lay and collect taxes, duties, imposts, and excises, to pay the debts, and provide for the common defense and general welfare of the United States,'' amounts to an unlimited commission to exercise every power which may be alleged to be necessary for the common defense or general welfare. No stronger proof could be given of the distress under which these writers labor for objections, than their stooping to such a misconstruction. Had no other enumeration or definition of the powers of the Congress been found in the Constitution, than the general expressions just cited, the authors of the objection might have had some color for it; though it would have been difficult to find a reason for so awkward a form of describing an authority to legislate in all possible cases. A power to destroy the freedom of the press, the trial by jury, or even to regulate the course of descents, or the forms of conveyances, must be very singularly expressed by the terms "to raise money for the general welfare.

''But what color can the objection have, when a specification of the objects alluded to by these general terms immediately follows, and is not even separated by a longer pause than a semicolon? If the different parts of the same instrument ought to be so expounded, as to give meaning to every part which will bear it, shall one part of the same sentence be excluded altogether from a share in the meaning; and shall the more doubtful and indefinite terms be retained in their full extent, and the clear and precise expressions be denied any signification whatsoever? For what purpose could the enumeration of particular powers be inserted, if these and all others were meant to be included in the preceding general power? Nothing is more natural nor common than first to use a general phrase, and then to explain and qualify it by a recital of particulars.

But the idea of an enumeration of particulars which neither explain nor qualify the general meaning, and can have no other effect than to confound and mislead, is an absurdity, which, as we are reduced to the dilemma of charging either on the authors of the objection or on the authors of the Constitution, we must take the liberty of supposing, had not its origin with the latter.
...

The Constitution Article I.Section 8. is an example of: "Nothing is more natural nor common than first to use a general phrase, and then to explain and qualify it by a recital of particulars." The first two clauses separated by semicolons constitute the "general phrase" which is then followed by particular explainations and qualifications that follow:
Quote:

http://www.archives.gov/exhibits/charters/constitution_transcript.html
Section 8. The Congress shall have power
To lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate commerce with foreign nations, and among the several states, and with the Indian tribes;
To establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States;
To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;
To provide for the punishment of counterfeiting the securities and current coin of the United States;
To establish post offices and post roads;
To promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries;
To constitute tribunals inferior to the Supreme Court;
To define and punish piracies and felonies committed on the high seas, and offenses against the law of nations;
To declare war, grant letters of marque and reprisal, and make rules concerning captures on land and water;
To raise and support armies, but no appropriation of money to that use shall be for a longer term than two years;
To provide and maintain a navy;
To make rules for the government and regulation of the land and naval forces;
To provide for calling forth the militia to execute the laws of the union, suppress insurrections and repel invasions;
To provide for organizing, arming, and disciplining, the militia, and for governing such part of them as may be employed in the service of the United States, reserving to the states respectively, the appointment of the officers, and the authority of training the militia according to the discipline prescribed by Congress;
To exercise exclusive legislation in all cases whatsoever, over such District (not exceeding ten miles square) as may, by cession of particular states, and the acceptance of Congress, become the seat of the government of the United States, and to exercise like authority over all places purchased by the consent of the legislature of the state in which the same shall be, for the erection of forts, magazines, arsenals, dockyards, and other needful buildings;--And
To make all laws which shall be necessary and proper for carrying into execution the foregoing powers, and all other powers vested by this Constitution in the government of the United States, or in any department or officer thereof.


0 Replies
 
wandeljw
 
  1  
Reply Thu 12 Mar, 2009 11:39 am
@Foxfyre,
I apologize if this is the wrong thread for the following essay. However, there has been some backlash against the stimulus bill and the analysis below is interesting.

Quote:
Why the Tenth Amendment "Nullification" Arguments Against the Stimulus Bill Are Sheer Folly " and Why It's Disturbing that So Many Years After the Civil War, They Are Still Being Raised
(By EDWARD LAZARUS, FindLaw Commentary, March 12, 2009)

In the wake of the passage of the stimulus bill, it was widely reported that a bevy of states, many of them so-called "red" states, entertained legislation purporting to declare the federal legislation "unconstitutional" " as, allegedly, a violation of rights guaranteed the states under the Tenth Amendment " and asserting a right of individual states to ignore the law. Stripped of the rhetoric about the immorality of the stimulus package, what these states are proposing is plain and simple a constitutional scheme under which states have a right to "nullify" any federal laws that they deem to intrude on their prerogatives.

It is difficult to see where the legislators who have drafted these states' rights bills find this "nullification" authority in the Tenth Amendment. That Amendment simply states that "the powers not delegated to the United States by the Constitution, nor prohibited to it by the States, are reserved to the States respectively, or to the people." Nowhere in this somewhat opaque text does the Constitution vest states with the right to unilaterally pick and choose what federal laws to obey based on their own conceptions of the Constitution. And if it somehow did, our system would simply fall apart. Federal power either overrules state power " as the Supremacy Clause dictates " or is merely advisory, which is untenable.

But if these state actions have only dubious grounding in the Constitution, they do have long and obvious historical roots " and shameful ones.

Back in 1828, then-Vice President John C. Calhoun gave voice to the doctrine of "nullification" in his fury over the federal tariffs that were then being imposed on states by the federal government. Like the modern-day nullifiers, Calhoun read the Tenth Amendment as providing states with a veto over disfavored federal legislation, to wit, a tariff too high for South Carolina's views of what was proper.

As Calhoun famously framed the idea: "That the sovereign powers delegated are divided between the General and State Governments ... it would seem impossible to deny to the States the right of deciding on the infractions of their powers, and the proper remedy to be applied for their correction." And on this theory, a South Carolina convention passed the "Ordinance of Nullification," which declared the tariffs of 1828 and 1832 to be null and void.

The President at the time obtained legislation to coerce compliance from South Carolina, including the use of force if that proved necessary. Under this threat, a compromise was eventually reached, whereby South Carolina obtained a lower tariff rate but repealed the Ordinance of Nullification.

The nullification doctrine did not die there, however. Nullification was born with the issue of slavery in mind. Southerners conceived of the doctrine as a potential tactic for fighting any federal attempts to abolish slavery " claiming that they could just refuse to enforce any such law. And beyond serving as a potential tactic for trying to preserve slavery, the concept underlying nullification " the idea that states could act in defiance of the federal government " paved the way for the even more radical concept of secession. Indeed, it was no coincidence that South Carolina, which birthed nullification (and which is jumping on the nullification bandwagon again now), was the first state to secede 30 years later and to set us upon each other in the fight for the survival of the Union.

It is hard to know what to make of the fact that a bunch of opportunistic politicians are now holding out a tarnished artifact of constitutional history as a serious interpretation of the Constitution and of our national structure. Perhaps this can be written off as mere grandstanding " symbolic gestures by politicians who are hoping to tap into a potential backlash against the inevitable growth of the federal government as it comes to grips with our economic crisis.

But nullification is a deeply pernicious idea. It strikes at the core of the constitutional bargain that was struck after the Revolution when the Articles of Confederation failed " the working principle that we are all in this together and that the purpose of the federal government, a government in which every state is represented, is to calibrate the shared sacrifices that all of us will have to bear to preserve the country's economic vitality and help it prosper. In place of this unifying idea, nullification substitutes the easy way out " by making the claim that we must all be allowed to judge our own contribution and take our own path, no matter how much our cross-purposes and divergent interests might undermine the common good.

To state the obvious, however, we do not live in ordinary times and the strains on the national fabric are increasing. A number of states already face double-digit employment " and that grim figure does not count those who are underemployed or have given up looking for a job. Unemployment nationwide will probably soon reach a comparable level. Overall, the risk of social unrest and the need for collective action to weather the economic storm are both rising.

In the face of this, it is not just wrong, but outright irresponsible to talk of nullification, much less, as actor Chuck Norris (Presidential candidate Mike Huckabee's celebrity sidekick) did today, to announce that he could readily imagine Texas seceding from the Union "sooner than we think" and that there would be "thousands of cell groups" united in solidarity around the country.

This all sounds like a very bad movie " but we need to be vigilant that this vision of how we should govern ourselves remains more fiction than fact.
Debra Law
 
  1  
Reply Thu 12 Mar, 2009 11:42 am
@cicerone imposter,
cicerone imposter wrote:

Debra wrote:
Quote:
"...disgusting hypocrisy..."
just about nails it. The same conservative congress members who voted for $700 billion last year during Bush's rein without so much as a wink with no strings attached to that money, now wants to watch every penny spent by Obama's stimulus plan.


Obama also noted that the Omnibus Budget that he signed was an imperfect bill and he noted the hypocrisy of the Republicans who blasted the earmarks because most of them had a hand in adding their own earmarks to the bill.

Quote:
The reason over 60% of Americans now approve of Obama is because they see that our government is now doing their best to reverse this economic crisis created by Bush. Those 4.4 million people who lost their jobs last year want our government to help reverse this job and home loss, and that includes both conservatives and liberals. The conservative congress members only know how to say "no." That's pissing off a lot of voters which will be reflected during the next election cycle.


The GOP is now known as the Grand Obstructionist Party.
okie
 
  0  
Reply Thu 12 Mar, 2009 11:53 am
@Debra Law,
Debra Law wrote:

The GOP is now known as the Grand Obstructionist Party.

Its called "sticking your finger in the dike."
Foxfyre
 
  1  
Reply Thu 12 Mar, 2009 11:58 am
@wandeljw,
Not the wrong thread at all Wandel and welcome. We get so few rational, well-thought-out non ad-hominem arguments for the left (liberal) side of the spectrum, that the rare contribution toward that end is very much appreciated. The piece you linked is a well-thought-out, non ad hominem argument for the more liberal perspective.

Using the following excerpt as my assessment of the summary of the thesis:
Quote:
But nullification is a deeply pernicious idea. It strikes at the core of the constitutional bargain that was struck after the Revolution when the Articles of Confederation failed " the working principle that we are all in this together and that the purpose of the federal government, a government in which every state is represented, is to calibrate the shared sacrifices that all of us will have to bear to preserve the country's economic vitality and help it prosper. In place of this unifying idea, nullification substitutes the easy way out " by making the claim that we must all be allowed to judge our own contribution and take our own path, no matter how much our cross-purposes and divergent interests might undermine the common good.


My quarrel with this point of view is that the alternative to personal responsibility is the assumption that the federal government is a better judge of what constitutes the 'common good' than are those who are living their lives as best as they can. It assumes that the federal government can spend our money on our behalf more efficiently and effectively than we would choose for ourselves. And, to assume that the concerns of those folks in Stinnett TX are the same as those in New York City and a one-size-fits-all solution is the answer for both is, I think in most MACean minds, silly.

Also, at the scale of the stimulus package, there is far too much temptation to use a power to distribute the 'common wealth' to the best advantage of the politicians doing the distributing.

It is for that reason that I argue that all citizens should share in the cost of the federal government to do its Constitutionally mandated responsibilities, but otherwise we should defend our right to determine what is best for our own state, county, community, household within the framework of such laws as necessary to maintain and preserve the peace and quality of life and prevent us from doing violence to each other.

0 Replies
 
mysteryman
 
  1  
Reply Thu 12 Mar, 2009 12:09 pm
@Debra Law,
Quote:
Obama also noted that the Omnibus Budget that he signed was an imperfect bill and he noted the hypocrisy of the Republicans who blasted the earmarks because most of them had a hand in adding their own earmarks to the bill.


But wasnt it Obama that campaigned on the pledge of NO EARMARKS?
So isnt he breaking his own promise?

And I dont but the excuse that its "old business".
It became "new business" once the dem controlled congress and Obama agreed to all of the spending and passed the bill.
joefromchicago
 
  1  
Reply Thu 12 Mar, 2009 12:10 pm
@okie,
okie wrote:

Debra Law wrote:

The GOP is now known as the Grand Obstructionist Party.

Its called "sticking your finger in the dike."

Leave Dick Cheney's daughter out of this.
0 Replies
 
Debra Law
 
  1  
Reply Thu 12 Mar, 2009 12:28 pm
@mysteryman,
mysteryman wrote:

Quote:
Obama also noted that the Omnibus Budget that he signed was an imperfect bill and he noted the hypocrisy of the Republicans who blasted the earmarks because most of them had a hand in adding their own earmarks to the bill.


But wasnt it Obama that campaigned on the pledge of NO EARMARKS?
So isnt he breaking his own promise?


You can't remember which candidate pledged "no earmarks?" It was McCain who campaigned on the pledge of no earmarks. McCain vowed to veto every spending bill that contained an earmark. President Obama has no duty to implement his losing opponent's campaign promises.

Quote:
And I dont but the excuse that its "old business".
It became "new business" once the dem controlled congress and Obama agreed to all of the spending and passed the bill.


Obama did not agree with the bill. He called it an imperfect bill. He could have vetoed the bill. A veto, however, meant that the federal government would have had absolutely no funding as of midnight and no funding would be available until Congress presented a better bill for his signature. The lack of funding would cause our federal government to grind to a halt. Obviously, President Obama found the total lack of funding less palatable than an imperfect bill that allows the government to continue working.
Foxfyre
 
  1  
Reply Thu 12 Mar, 2009 12:29 pm
@mysteryman,
mysteryman wrote:

Quote:
Obama also noted that the Omnibus Budget that he signed was an imperfect bill and he noted the hypocrisy of the Republicans who blasted the earmarks because most of them had a hand in adding their own earmarks to the bill.


But wasnt it Obama that campaigned on the pledge of NO EARMARKS?
So isnt he breaking his own promise?

And I dont but the excuse that its "old business".
It became "new business" once the dem controlled congress and Obama agreed to all of the spending and passed the bill.


From all appearances, and I could be wrong, I think that's why Obama is so desperate for bi-partisan participation on this stuff. That way he can play the popular 'whose is blackest' or 'they do it too' game to justify excesses, irresponsibility, and self-serving actions of government. So long as he can point to Republican fingerprints or blame George Bush, he can justify anything.

Wouldn't it be refreshing to have a leader who governed via principle and personal integrity rather than political expediency?
0 Replies
 
ican711nm
 
  0  
Reply Thu 12 Mar, 2009 12:46 pm
The OILs (i.e., Obama Invidious Liberals) are not serving our interests. About one-third of our after federal tax income--about $300 per week--has been derived from our investments. Since the OILs took over the federal government, that income has been reduced to $200 per week. That reduction has been produced by the OILS threatening to raise taxes on those who manage the companies that produce our income, or take over those same companies.

We do not care how much more income those who manage the companies that produce our income make. What we do care about is how good a job they do, and how much dividend they pay us their investors. Whether their total income or after tax income is a thousand times, or a million times more than ours is no concern to us whatseoever.

If we had a flat, say 10%, tax system, the more that the rich made per year, the more they would pay in taxes. A person whose taxable income were $1 would pay only 10 cents in income taxes; a person whose taxable income were $10 would pay only $1 in income taxes; but a person whose income were $10 billion would pay $1 billion in income taxes. The more profits the companies managed by the wealthy earn, the more income those wealthy would earn, the more taxes they would pay, and the lower everyone's tax rate would have to be to fund the federal government's lawful expenditures. So please, let the rich get richer! It's in our self-interest even though we are far from rich.

Besides, the richer the rich get, the more flight students I would have, and the more flying I would do!
mysteryman
 
  1  
Reply Thu 12 Mar, 2009 12:47 pm
@Debra Law,
Quote:
You can't remember which candidate pledged "no earmarks?" It was McCain who campaigned on the pledge of no earmarks. McCain vowed to veto every spending bill that contained an earmark. President Obama has no duty to implement his losing opponent's campaign promises.


But he DOES have a duty to implement his own plans and keep his word...

http://www.msnbc.msn.com/id/28525113/
Quote:
WASHINGTON - President-elect Barack Obama vowed Tuesday to bar lawmakers' pet projects from his massive economic stimulus plan and to bring unprecedented accountability to federal spending.


http://bulletin.aarp.org/yourworld/politics/articles/obama_backs_off_earmark_pledge.html?CMP=KNC-360I-GOOGLE-BULL&HBX_OU=50&HBX_PK=earmarks

Quote:
WASHINGTON - Despite campaign promises to take a machete to lawmakers' pet projects, President Barack Obama is quietly caving to funding nearly 8,000 of them this year, drawing a rebuke yesterday from his Republican challenger in last fall's election.


Arizona Sen. John McCain said it is "insulting to the American people" for Obama's budget director to indicate over the weekend that the president will sign a $410 billion spending bill with what Republicans critics say is nearly $5.5 billion in pet projects, known as earmarks.


"So much for the promise of change," McCain said in the first of many assaults he is likely to make against pork-barrel spending this year.


Democrats contend that earmarks in the bill total only $3.8 billion, less than 1 percent of the amount Congress is approving to finance government programs through September. Taxpayers for Common Sense, an anti-earmark watchdog group, counts them differently and found $7.7 billion worth.


So, are you saying that Obama didnt pledge to stop earmarks?
Foxfyre
 
  0  
Reply Thu 12 Mar, 2009 12:51 pm
Speaking of integrity, our poor President's track record of picking the right people for whatever jobs gets curiouser and curiouser:

For instance there is this:

Quote:
March 5, 2009
This morning the White House announced that Vivek Kundra will be the administrations Chief Information Officer. Previously he served as the Chief Technology Officer for the Government of the District of Columbia. As the Chief Information Officer (CIO), Kundra will direct technology ventures for U.S. agencies. According to a statement from Obama, he will ‘play a key role in making sure our government is running in the most secure, open, and efficient way possible.’

The seems to be the fulfillment of Obama’s campaign promise to create a technology czar tasked with helping government operate more efficiently. In this administration it seems that creating another level of bureaucracy equates efficiency, somehow. The newly created position will function under the auspices of the White House. Kundra will be expected to oversee government agencies purchases and use of information technology.

Vivek Kundra Biography
Vivek Kundra was born in 1974 in New Delhi, India and raised in Tanzania. He is 34 years old. He moved with his family to Maryland, U.S.A. He graduated from the University of Virginia’s Sorensen Institute for Political Leadership. He has an MS degree from the University of Maryland in Information Technology.

Prior to accepting the position as the new Federal Chief Information Officer, Kundra served on Barack Obama’s transition team.
http://www.rightpundits.com/?p=3239


And now this:

Quote:
Obama official not a target in FBI raid
Thu Mar 12, 2009
By Andy Sullivan

WASHINGTON (Reuters) - The FBI raided the former office of Obama administration official Vivek Kundra and arrested two people in a corruption probe on Thursday, but Kundra is not a target of the investigation, a spokeswoman for Washington's mayor said.

The FBI searched the offices of the District of Columbia's chief technology officer, a post formerly held by Kundra, as it investigates employee corruption there, spokeswoman Mafara Hobson said.

President Barack Obama named Kundra, 34, to be the federal government's chief information officer last week, responsible for overseeing the government's computer systems.

The White House declined to comment.

Yusuf Acar, who works in the District's technology office, and another man, Sushil Bansal, were arrested, FBI spokeswoman Lindsay Godwin said.

Godwin declined to say whether the two were arrested on bribery charges, as reported by The Washington Post. The charges remain under seal, Godwin said.
http://www.reuters.com/article/domesticNews/idUSTRE52B50X20090312


My question: Is Vivek Kundra a U.S. citizen? What IS his involvement, if any, with those guys who were arrested? Shouldn't that really be of some concern re the person in charge of the federal government computer system?
ican711nm
 
  0  
Reply Thu 12 Mar, 2009 12:57 pm
@Debra Law,
Debra Law wrote:
Obama did not agree with the bill. He called it an imperfect bill. He could have vetoed the bill. A veto, however, meant that the federal government would have had absolutely no funding as of midnight and no funding would be available until Congress presented a better bill for his signature. The lack of funding would cause our federal government to grind to a halt. Obviously, President Obama found the total lack of funding less palatable than an imperfect bill that allows the government to continue working.

Your argument is so bogus, it ought to be obvious to everyone including you. All the Congress would have had to do in the face of Obama's veto would be to quickly pass an extension of the current federal budget for another month or so, while they cleaned up the vetoed bill.

This particular reaction to past presidential vetos of budget bills has been taken before.
0 Replies
 
Advocate
 
  1  
Reply Thu 12 Mar, 2009 01:00 pm
@ican711nm,
You really should not cry for the rich. The tax increase would not apply until 2011, and would merely increase the top bracket for the rich from 35 % to 39.6%, the latter being the rate under Clinton. The rich will not have to hit the soup line. Moreover, we have always had an ability-to-pay (graduated rates) system, and the country has prospered under it. Further, for decades the fortunes of the rich have soared, while the middle and lower classes have drifted downward. We are now in a plutocracy.
cicerone imposter
 
  1  
Reply Thu 12 Mar, 2009 01:03 pm
@Foxfyre,
It won't take too much time on Google research to find the incompetents hired by Bush.
0 Replies
 
ican711nm
 
  1  
Reply Thu 12 Mar, 2009 01:11 pm
@Advocate,
I'm not crying for the rich anymore than I'm envying the rich. I'm crying for me because of what the OILs are doing that takes down our economy.
I posted (WITH TWO CAPITALIZED WORDS ADDED):
Quote:
The OILs (i.e., Obama Invidious Liberals) are not serving our interests. About one-third of our after federal tax income--about $300 per week--has been derived from our investments. Since the OILs took over the federal government, that income has been reduced to $200 per week. That reduction has been produced by the OILS threatening to raise taxes on those who manage the companies that produce our income, AND/or THREATENING to take over those same companies.

0 Replies
 
Foxfyre
 
  0  
Reply Thu 12 Mar, 2009 01:11 pm
@Advocate,
The country has also prospered when more favorable (for the rich) tax policy encouraged the rich to conduct business in a way that was favorable for the poor. One of the foundations of MACean philosophy is that you cannot punish the success of the rich without hurting the poor.
cicerone imposter
 
  1  
Reply Thu 12 Mar, 2009 01:15 pm
@Foxfyre,
Hog wash. All we need do is look at the past eight years under Bush when the rich got richer, and the middle class and poor didn't even keep up with inflation - and that's after Bush's tax cuts for the rich.
0 Replies
 
Foxfyre
 
  1  
Reply Thu 12 Mar, 2009 01:27 pm
@Foxfyre,
This assessment in 1996 is still valid. The ratios changed after 1996 when policies of the Freshman class of 2004 had fully kicked in--you remember--those MACean Republians we had back then? Those were the days of welfare reform, and policies leading to a balanced budget all of which President Clinton initially resisted but eventually went along with as he was far less a socialist than the current occupant of the White House.

When Cato finishes their analysis of the Bush record and comparing it to previous administrations, I will post that too:

Quote:
Supply-Side Tax Cuts and the Truth about the Reagan Economic Record
by William A. Niskanen and Stephen Moore

William A. Niskanen is chairman and Stephen Moore is director of fiscal policy studies at the Cato Institute.

Published on October 22, 1996
Bob Dole's proposal for a 15 percent income tax cut has reignited the long-standing debate about the economic impact of Reaganomics in the 1980s. This study assesses the Reagan supply-side policies by comparing the nation's economic performance in the Reagan years (1981-89) with its performance in the immediately preceding Ford-Carter years (1974-81) and in the Bush-Clinton years that followed (1989-95).

William A. Niskanen is chairman and Stephen Moore is director of fiscal policy studies at the Cato Institute.

More by William A. Niskanen
On 8 of the 10 key economic variables examined, the American economy performed better during the Reagan years than during the pre- and post-Reagan years.

Real economic growth averaged 3.2 percent during the Reagan years versus 2.8 percent during the Ford-Carter years and 2.1 percent during the Bush-Clinton years.

Real median family income grew by $4,000 during the Reagan period after experiencing no growth in the pre-Reagan years; it experienced a loss of almost $1,500 in the post-Reagan years.

Interest rates, inflation, and unemployment fell faster under Reagan than they did immediately before or after his presidency.

The only economic variable that was worse in the Reagan period than in both the pre- and post-Reagan years was the savings rate, which fell rapidly in the 1980s. The productivity rate was higher in the pre-Reagan years but much lower in the post-Reagan years.

This study also exposes 12 fables of Reaganomics, such as that the rich got richer and the poor got poorer, the Reagan tax cuts caused the deficit to explode, and Bill Clinton's economic record has been better than Reagan's.
http://www.cato.org/pub_display.php?pub_id=1120
 

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