1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

Obama recovery vs Ronald Reagan....

Discussion in 'Politics, Elections & Legislation' started by Luckyman, Apr 20, 2011.

Thread Status:
Not open for further replies.
  1. Luckyman

    Luckyman Active Member

    Joined:
    Jan 29, 1998
    Messages:
    1,035
    Gramm: Obama Recovery Trails Reagan's by 15.7 Million Jobs
    Tuesday, 19 Apr 2011 09:05 AM

    By Julie Crawshaw

    Economist and former U.S. senator Phil Gramm says this recovery really is different: If Barack Obama matched Ronald Reagan's post-recession recovery rate, 15.7 million more Americans would have jobs.

    “A compelling case can be made that Reagan's tax cuts, Social Security reforms, regulatory reforms, and limits on the growth and power of the federal government not only helped the economy shake off the malaise of the 1970s but generated an economic growth premium that bore dividends for Americans until 2007,” Gramm writes in The Wall Street Journal.

    “Had the U.S. economy recovered from the current recession the way it bounced back from the other 10 recessions since World War II, our per-capita gross domestic product (GDP) would be $3,553 higher than it is today, and 11.9 million more Americans would be employed.”


    Ronald Reagan
    (Getty photo)
    “If the Reagan policies of the 1980s were sufficiently different from those of the previous decade to generate a growth premium, cannot a case be made that the policies of the Obama administration are sufficiently different from those of the previous quarter-century to alter the growth trend and impose a growth discount?” he asks.

    The problem, says Gramm, is not just the weak recovery but increasing evidence that the economy is now on a growth path far different from the previous quarter century. Despite the largest monetary and fiscal stimuli in American history, in 2009 the capital stock of the nation actually shrank for the first time in the postwar period.

    Had Obama’s recovery rate matched Reagan’s, Gramm points out, 1982 today annual per-capita income would be $4,154 higher than before the recession.

    “That's an extra $16,600 for a family of four” says Gramm, and some 15.7 million more Americans would have jobs.

    “That's enough jobs to employ 100 percent of the 13.5 million Americans currently classified as unemployed,” Gramm notes. “In addition, we would have provided jobs for 30 percent of both the 2.4 million discouraged or marginally attached workers and the 4.8 million who have totally dropped out of the work force since January 2008.”

    Fits News reports that the International Monetary Fund says America’s failure to control its rampant deficit spending could be the undoing of the global economic recovery.

    According to the IMF’s most recent World Economic Outlook the U.S. government not only lacks a “credible strategy” for dealing with its skyrocketing debt, but is continuing to expand deficit spending at a time when it should be contracting.


    Read more: Gramm: Obama Recovery Trails Reagan's by 15.7 Million Jobs
     
  2. sernv99

    sernv99 Active Member

    Joined:
    Sep 29, 2008
    Messages:
    1,671
    Phil Gramm co-sponsored a significant piece of leigislation that cozied up to big banks. He does not get much support from other economists as being competent....but then again what does Luckyman care, he just cuts and pastes Toilet Party spam from his inbox onto here without doing any sort of research.
     
  3. Brian in Oregon

    Brian in Oregon Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    25,238
    Location:
    Deplorable Bitter Clinger in Liberal La La Land
    Does the study take into account the shifting of massive amounts of jobs overseas? This was not happening on a large scale until after the Reagan recovery (NAFTA, et al).

    As for the jobs created under the Obama administration and unemployment figures, keep in mind that the situation is worse than reported. Many have fallen off the unemployment rolls and are no longer counted, many of the jobs the government "created" are temporary, and the simple fact that two part-time jobs do not equal a full time job, nor does a minimum wage job equal a professional wage job.

    As for Phil Gramm, yeah, he's a cheese weasel, but pointing out the bad banking legislation he sponsored in an attempt to cast doubt on his recovery comparison is a typical liberal sleight of hand trick. "He was wrong doing A, therefore B must be wrong too".
     
  4. Luckyman

    Luckyman Active Member

    Joined:
    Jan 29, 1998
    Messages:
    1,035
    The Dumbocraps love NAFTA....They are sending GM production over to Mexico!!! LOL! You liberals need to flush the fecal matter out of your heads! BTW...did you hear that Obama wants to dump GM and the taxpayers are going to take in the @$$ once again? GM isn't selling cars because of $5.00 being $5.00 per gallon and now Obummer wants to rid this yoke around his neck before the election all at the expense of the American people....

    These people are retarded monkeys leading retarded sheep...AKA Liberals...sernv that means you....Baaahhhhhh!
     
  5. Brian in Oregon

    Brian in Oregon Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    25,238
    Location:
    Deplorable Bitter Clinger in Liberal La La Land
    I wonder how the brainwashed UAW members will vote if Zero stands by while GM augers in this time around?
     
  6. stokinpls

    stokinpls Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    6,482
    Phil Gramm has nothing on this guy.


    [​IMG]
     
Thread Status:
Not open for further replies.