The great Ronaldus Magnus inherited a FAR worse economy from Mr. Peanut Carter than Comrade Ozero did from Bush43:
Carter economy:
-Double digit unemployment
-Double digit inflation
-Prime interest > 20%
-Mortgage 30yr interest > 18%
After 1 year of passing his tax rate cuts, Reagan’s GDP was soaring @ 8.5%
Comrade’s BIG GOVT Porkulus results:
-GDP in 1Q/11 = 0.4%
-Unemployment (U6) = 16%
Exactly. The Wall Street Journal editorial for the first edition of 1983 was entitled something like “FINALLY, A TAX CUT.” The Dow bottomed out at about 700 in the fall of 1982. From then on, it soard as high as 2700. then the Dems took the Senate in 1987, and the Dow fell to 2200 in October of 1987. The next two days, Thursday and Friday, it lost about 100 each day, leaving investors to panic over the weekend. Monday was Black Monday. The next two days the Dow fell to about 1200, but it recovered by the end of the year.