The Reagan first term in office started with lies!. His early 1981 Tax breaks, were masked by tax increases(state and local taxes rose). He also claimed that he would be responsive and
responsible for sound fiscal budgetary accounting. His entire term in office was scarred by ballooning federal budget deficits.
Because of his overwhelming budget cuts(he sold the American people in early 1980 on STARVING late 1970's hyper inflation by cutting the budget and Federal Reserve monetary supply so severly, too severly) and because of the real tax breaks (and) tax increases in the early 1980's and because of left over inflationary pressures from the Carter and Nixon years,therefore THE FIRST half of the first term of Reagan's years were marked by an early (1980's technical recession, just look at the GDP figures for that period). And every so called heavy weight media and non media conservative in this country allowed this lie of 7 fat positive growth years to continue.
The battle cry at the end of Reagan's first term in office fiscally proves my point here. With Reagan's NOW famous "stay the course". He and his campaign fake strategists were ACTUALLY begging us good American's to stay the economic course for his second term. And why?. Because his supply side economic policies of his first term WERE NOT WORKING for positive economic growth. Yes we were in a Contraction or recession during (NEARLY) the entire first half of this so called "7 Fat Years". It was NOT until the mid 80's that economic growth took hold and continued to late 1989(and this was false growth based on government debt/spending and consumer debt/fake borrowing).You are a real jokester, Mr. Robert L. Bartley author of this book. You should have titled this book "4 or 5 Fat Years Based on False Growth or Debt".
Also to throw voodoo economics on top of BAD economics, we as a Nation were treated to the S AND L mess. Co-authored in part by then Vice President George Bush Sr's son in Colorado. That cost us big(in the financial pocket books Mr.and Mrs. America). We are still paying for this calamity in the form of left over 80's now new millenium insurance premiums and fees from our wonderful consumer based banks.
And to top this whole terror Reagan economics off, coupled with too lazy "deregulations" we fell back into a technical recession at the end of his term(1989). NOT because of Bush Sr's lack of his own creative supply side economics. But because of the TOTALLY faulty beginning pen-menship of Reagan economics to begin with(all debt and false/fake economics all the time).
The ONLY really UNIQUE portrait of Reagan economics is: Reagan is one of the few, IF not only American President ever to be partially responsible for creating a technical recession(1981-1983)and fully responsible for 1989-1992 technical recession. How about that as a factorial for you history making maniacs?.
Care to debate it further? Contact me,
www.frankievradioshow.com
at Email:media19582003@yahoo.com
Phone 609-835-0984