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Why do Republicans compare Reagan's recovery with Obama's recovery when they have nothing in common.?
Fed Chairman had much more to do with the recovery than Reagan did in the early 80's.
Volcker kept interest rates really high for really long to break the scourge of inflation. When he finally lowered them during Reagan's first term, pent up demand was release which caused the economy to boom. Adding to this flood was Reagan's use of Keynesian Economics thru massive deficit spending on the military.
Military spending is one big stimulus.
Obama had no tools at his disposal. The entire world financial market froze up due to BoZo Greenspan keeping interest rates too low for too long.
7 Answers
- Anonymous8 years ago
Reagans succeeded and Obama failed. Yes, Reagan was wise in listening to Volcker, while Obama was stupid to ignore him and hired the three stooges, Geitner, Summers And Bernanke. He was suppose to give Volcker one of those positions but then got wooed not to.
Obam ahd the same tools. He was stupid enough to rehire Bernanke. He allowed Summers to ice out VOlcker. He tried to use Keynesian economics but unfortunately did not supervise it correctly.
If you go back into my history. I said 4 years ago, is that Infrastructure is not a good way to stimuluate the economy because too much of the money goes into foreign hands and corporate profits.
The problem is Obama is suppose to supervise the execution. after he made the plan he allowed people to run amuck.
- hoehlLv 45 years ago
No, we are not able to evaluate them because Obama's domestic insurance policies are reverse of Reagan's. Now any individual who thinks Obama's can have identical, if now not higher outcome. That's like telling any individual, that if they are attempting to seize a soccer with their mouth, they're going to have the same effect as seeking to capture it with their fingers.
- BrianneLv 78 years ago
Don't use Obama's name with Reagan's, it is a true insult to a great president like Reagan. In fact it would insult Carter to have Obama's name mentioned with his.
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- MaxwellLv 78 years ago
You are right, Reagan actually had a noticeable recovery.
Obama's is basically invisible.
- Anonymous8 years ago
You're right ,,,, nothing at all in common ,,,,, Reagan's plan actually worked .