Perspective on Unemployment Rate Reagan vs. Obama

[drf]

Re: Perspective on Unemployment Rate Regan vs. Obama

So what you're saying is, we need to invade Grenada again to jump start the economy?

It's either that or bomb the shit out of Libya again.

 

[pinupglam01]

In Jan. '81 when Reagan took office the U/E rate was 7.50%. In Jan. '82, a year later it was 8.60% and rising. In July of '82 it was 9.80% and rose steadily until topping out at 10.80% almost 2 years after his inauguration in Nov. and Dec. of '82.

Once topping at 10.80% it didn't fall below 10% until July of '83...2 yrs. 6 mos. after taking office.

In Jan. 09 when Obama took office the U/E rate was 7.70%. In Jan. '10, a year later it was 9.70% and falling (after topping out at 10.10 in October of '09). It has dropped slightly and stood at 9.50% in Jun '10.

The U/E rate under Obama topped out at 10.10% 9 months after Obama took office and was below 10% on the anniversary of his inauguration and has declined ever since standing at about 9.40% today (1 yr. 6mos).

By all accounts this economy was/is worse than that inherited by Reagan....Hopefully this puts things in a little more perspective.

What is laughable is how the GWB shills at Fox (Hannity and the gang) whined compulsively over Bush inheriting a Clinton recession with an U/E rate of 4%. Then Bush turns around to hand his successor an U/E rate nearly double, a bankrupt financial institution, auto industry and 2 wars.:1orglaugh:1orglaugh
http://www.miseryindex.us/urbymonth.asp

Thanks for pointing that out. As I've learned over the years, people get very selective with their memory and tend to only see and hear that which they want to see and hear, regardless of facts or truth.

There's a great quote that opens Michael Lewis' new book "The Big Short" that comes from Leo Tolstoy and it reads:

"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."

It seems like a concept that is worth thinking about for anyone who thinks they know it all. Then again, those are exactly the people who won’t think about it.

 

[1ManRevolution]

Thanks for pointing that out. As I've learned over the years, people get very selective with their memory and tend to only see and hear that which they want to see and hear, regardless of facts or truth.

There's a great quote that opens Michael Lewis' new book "The Big Short" that comes from Leo Tolstoy and it reads:

"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."

It seems like a concept that is worth thinking about for anyone who thinks they know it all. Then again, those are exactly the people who won’t think about it.

Basicly whatever the talking heads tell them, they take as the truth.

 

[vodkazvictim]

In Jan. '81 when Reagan took office the U/E rate was 7.50%. In Jan. '82, a year later it was 8.60% and rising. In July of '82 it was 9.80% and rose steadily until topping out at 10.80% almost 2 years after his inauguration in Nov. and Dec. of '82.

Once topping at 10.80% it didn't fall below 10% until July of '83...2 yrs. 6 mos. after taking office.

In Jan. 09 when Obama took office the U/E rate was 7.70%. In Jan. '10, a year later it was 9.70% and falling (after topping out at 10.10 in October of '09). It has dropped slightly and stood at 9.50% in Jun '10.

The U/E rate under Obama topped out at 10.10% 9 months after Obama took office and was below 10% on the anniversary of his inauguration and has declined ever since standing at about 9.40% today (1 yr. 6mos).

By all accounts this economy was/is worse than that inherited by Reagan....Hopefully this puts things in a little more perspective.

What is laughable is how the GWB shills at Fox (Hannity and the gang) whined compulsively over Bush inheriting a Clinton recession with an U/E rate of 4%. Then Bush turns around to hand his successor an U/E rate nearly double, a bankrupt financial institution, auto industry and 2 wars.:1orglaugh:1orglaugh
http://www.miseryindex.us/urbymonth.asp

Would rep ya for this, but can't

 

[~~whimsy~~]

Re: Perspective on Unemployment Rate Regan vs. Obama

And next year they will have another study and then another study... so on and so forth for whatever political gain can be taken via facts or opinions or whatever.

 

[Crazy4theBrat]

The same people criticizing Obama over a 35% tax rate, hail Reagan for cutting taxes yet the top tax rate was 50% or above for 6 of his 8 years.

We can compare them after Obama completes 4 years...If power drunk GOPers don't spend the rest of his term trying to impeach him should they prevail in Nov.

To be fair, we need to remember that Reagan had to deal with a Democrat majority in the congress, so it was a lot harder for him to get things through than it should be for Obama. Obama has a super majority, and if his policies are reasonable, he should be able to get things through a lot more easily.

I do agree with you about waiting four years. To try and take shots at the guy right now is just cheap political propoganda. He deserves his four years to see if his policies will work before we make any judgements.

 

[Rey C.]

To be fair, we need to remember that Reagan had to deal with a Democrat majority in the congress, so it was a lot harder for him to get things through than it should be for Obama. Obama has a super majority, and if his policies are reasonable, he should be able to get things through a lot more easily.

I do agree with you about waiting four years. To try and take shots at the guy right now is just cheap political propoganda. He deserves his four years to see if his policies will work before we make any judgements.

Yes, Reagan did have a Democrat congress to deal with. But unlike the current crop of GOP'ers vs Obama (comparing themselves to the Taliban?! Really? ), Reagan and Tip O'Neill were actually friendly, if not friends. And it was actually a number of Democrats who embraced Supply Side economics before very many Republicans bought into it (it was George H.W. Bush who tagged it "Voodoo Economics", not the Democrats). And as always, it is the Fed that determines monetary policy. So Paul Volker had a BIG hand (he's a BIG man) in whipping inflation. The President and the Congress can only enact fiscal policy measures.

But still, I have to commend you on a reasonable post. I don't care about parties. I care about the country. It's most unfortunate that there are a number of people for whom party comes first and the welfare of the nation comes second or third.

 

[1ManRevolution]

Yes, Reagan did have a Democrat congress to deal with. But unlike the current crop of GOP'ers vs Obama (comparing themselves to the Taliban?! Really? ), Reagan and Tip O'Neill were actually friendly, if not friends. And it was actually a number of Democrats who embraced Supply Side economics before very many Republicans bought into it (it was George H.W. Bush who tagged it "Voodoo Economics", not the Democrats). And as always, it is the Fed that determines monetary policy. So Paul Volker had a BIG hand (he's a BIG man) in whipping inflation. The President and the Congress can only enact fiscal policy measures.

But still, I have to commend you on a reasonable post. I don't care about parties. I care about the country. It's most unfortunate that there are a number of people for whom party comes first and the welfare of the nation comes second or third.

I remember hearing that Tip O'Neill used to tell people that politics ended at 6. Reagan and O'Neill would argue especially about the big things, but they also respected each other and came to a compromise for the betterment of the Nation. Something that todays politicans would never do...at leas the GOP. In the GOP compromise is a bad word.

I find it rather ammusing that people are bitching about Obama 2 years into his Presidency. He has not even completed his required 4 years and people are calling him the worst President ever...which is a joke considering we just have Bush for 8 years.

Also the whole super majority thing went out the window when Scott Brown was elected...remember how happy the teabaggers were...wonder how happy they are now. Considering Brown just voted for the Wall Street Reform bill.

 

[georges]

Re: Perspective on Unemployment Rate Regan vs. Obama

two different eras and two different people but obama is still an idiot when compared to reagan.

 

[Hot Mega]

Re: Perspective on Unemployment Rate Regan vs. Obama

two different eras and two different people but obama is still an idiot when compared to reagan.

Thanks for that deep and profound fact laden addition to the discussion.

You're right, it was a different era..Reagan didn't inherit a bankrupt financial institution, auto industry and soldiers at war on foreign soil.:wave2:

 

[316sherm]

Re: Perspective on Unemployment Rate Regan vs. Obama

Thanks for that deep and profound fact laden addition to the discussion.

You're right, it was a different era..Reagan didn't inherit a bankrupt financial institution, auto industry and soldiers at war on foreign soil.:wave2:

:glugglug: