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Originally Posted by ElKabong
Reagan turned a truly bad economy around. He didn't have the luxury of having the Internet coming of age, creating a lot of great paying jobs. He steered the country in the right direction.
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Let's take a closer look at that wonderful turn around. It really wasn't all that wonderful.
Unemployment? December 1976 the unemployment rate was 5.6%. It did not fall below that rate until April 1988; 88 months into the Reagan presidency. And those 88 months included more than a year with the unemployment rate over 10%.
The economy lost jobs in 19% of the months that Reagan was president as compared to 11% of the months Carter was president. Overall we gained 217,000 jobs a month under Reagan and 207,000 a month under Carter. Hardly a significant difference.
Average annual GDP growth under Reagan was only .2% higher than under Carter, while the national debt increased at the rate of $211,830,000,000 a year under Reagan. Compare that to $71,817,000,000 a year under Carter.
During the Carter years the lowest poverty rate was 15.9%; the highest was 18.3%. Under Reagan, the lowest poverty rate was 19.5; the highest 22.3%.
During the "terrible" Obama recovery, monthly job growth exceeded the Reagan Average (217,000) twenty eight times.
Basically you are , once again, full of beans
