9
   

Obama's low approval rating is misleading.

 
 
sozobe
 
  1  
Reply Wed 18 Aug, 2010 05:28 pm
@cicerone imposter,
Right, it was something else... graphs that were extremely similar for a similar stretch (5 years?) ending in 1982 and then another one for the same stretch ending in 2010 (not inflation, but something indicating the health of the economy maybe?).
cicerone imposter
 
  1  
Reply Wed 18 Aug, 2010 05:32 pm
@sozobe,
From Wiki:
Quote:
Reagan's policies are recognized by some (but not all, for example economist James K. Galbraith makes a very different case in his 2009 book "How Conservatives Abandoned the Free Market and Why Liberals Should Too") as bringing about one of the longest peacetime expansions in U.S. history.[9] During the Reagan administration, the American economy went from a GDP growth of -0.3% in 1980 to 4.1% in 1988 (in constant 2005 dollars) [10], which reduced the unemployment rate by 1.6%, from 7.1% in 1980 to 5.5% in 1988, but with peaks of around 9.5% in 1982 and 1983.[11] A net job increase of about 16 million also occurred (about the rate of population growth). Reagan’s administration is the only one not to have raised the minimum wage.[12] The inflation rate, 13.5% in 1980, fell to 4.1% in 1988, which was achieved by applying high interest rates by the Federal Reserve (peaked at 20% in June 1981).[13] The latter caused a brief recession in 1982: unemployment rose to 9.7% and GDP fell by 1.9%.
0 Replies
 
Irishk
 
  1  
Reply Wed 18 Aug, 2010 05:55 pm
@cicerone imposter,
I'd have to look it up, but wasn't unemployment high then, too?

ETA...never mind, I was replying to the previous page, duh.
plainoldme
 
  1  
Reply Wed 18 Aug, 2010 05:56 pm
Fox News is a practitioner of yellow journalism. There has always been yellow journalism and it has served good causes as often as it has served bad. Fox has more . . . lets call it 'saturation power' . . . than previous news outlets have had.
0 Replies
 
plainoldme
 
  1  
Reply Wed 18 Aug, 2010 05:58 pm
@Irishk,
During the reagan years, employment was high and low.
Irishk
 
  1  
Reply Wed 18 Aug, 2010 06:00 pm
@plainoldme,
Yes, I was thinking of the time span when his polling numbers were as low as Obama's. 1982 or so?
plainoldme
 
  1  
Reply Wed 18 Aug, 2010 07:09 pm
@Irishk,
I can't quite place anything in time then . . . I was a stay at home mom with three kids.

I do remember that there were banners on many service businesses, restaurants and the like, seeking workers. So, at the low end, there were many jobs. I found this on wiki: Unemployment peaked at 10.8% percent in December 1982—higher than any time since the Great Depression—then dropped during the rest of Reagan's presidency.

There's a statement that's germane to the present situation!

Continuing from the same source: Reagan's policies proposed that economic growth would occur when marginal tax rates were low enough to spur investment. . . Critics labeled this "trickle-down economics"—the belief that tax policies that benefit the wealthy will create a "trickle-down" effect to the poor.Questions arose whether Reagan's policies benefitted the wealthy more than those living in poverty, and many poor and minority citizens viewed Reagan as indifferent to their struggles. . .
The administration's stance toward the Savings and Loan industry contributed to the Savings and Loan crisis . . . economists, such as Nobel Prize winners Milton Friedman and Robert A. Mundell, argue that Reagan's tax policies invigorated America's economy and contributed to the economic boom of the 1990s. Other economists, such as Nobel Prize winner Robert Solow, argue that the deficits were a major reason why Reagan's successor, George H. W. Bush, reneged on a campaign promise and raised taxes."


I love it! Battling Noble laureates!
0 Replies
 
plainoldme
 
  1  
Reply Wed 18 Aug, 2010 07:12 pm
What I clearly remember is having been afraid of nuclear war during the reagan years.
0 Replies
 
ossobuco
 
  1  
Reply Fri 20 Aug, 2010 09:40 am
1982 was when nine of the ten of us employees at one of the best land architecture firms in the country were laid off. I then cold called 40 firms in the greater Los Angeles area. Often it was a firm principal answering the phone... Finally got some interest, luckily in a nearby firm, and stayed with them nine years. So... if land arch was down, construction was down, and so was much employment related to that.
plainoldme
 
  1  
Reply Fri 20 Aug, 2010 10:21 am
@ossobuco,
Exactly. The raygun years were not all sunshine and roses, despite the well-dressed and immaculately groomed couple in the WH.
0 Replies
 
 

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