…but that economic boost had better take effect soon. Checking out the headlines in the economy session of Investor’s Business Daily today didn’t exactly reassure me:
At this same point in the Reagan presidency, he was in serious trouble. He knew that his version of Keynesian stimulus (tax cuts) needed to provide tangible results soon, or his re-election would be doubtful. Luckily they did (see chart below) and a 25 year secular economic boom resulted. CBO projections indicate the current state of elevated unemployment is also about to turn the corner. The gray areas below indicate the time between Reagan/Obaama inauguration and 532 days into their presidency.
On a related note, I’ve been playing with the Gallup presidential comparison chart a lot lately, and Obama and Reagan are almost exactly tied in terms of general approval at 532 days in.
2 responses so far ↓
1 Steve Roth // Jul 9, 2010 at 7:38 am
Damned interesting on the approval chart.
On that “25 year secular economic boom”:
Problem is that that boom was driven by 30 years of nonstop binge Keynesian stimulus gone wild (except under Clinton):
http://www.usgovernmentrevenue.com/downchart_gr.php?year=1940_2015&view=1&expand=&units=p&fy=fy11&chart=H0-fed&bar=0&stack=1&size=l&title=&state=US&color=c&local=s
Obama’s stuck with paying the bills for that malfeasance, healing an economy suffering from decades of irresponsible vote-buying.
Reagan didn’t face that problem. Debt was in good shape when he took office.
2 Steve Roth // Jul 21, 2010 at 2:57 pm
And, uh…that “boom”?
http://www.asymptosis.com/trickle-down-really-really-works.html
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