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  • Reagan Recovery vs. Obama Recovery in Pictures

    According to The National Bureau of Economic Research, the most recent recession began in December 2007, lasted 18 months, and ended in June 2009. The recession which most closely resembles the most recent one began in July 1981, lasted 16 months, and ended in November 1982. No two recessions are exactly the same. No two recoveries are exactly the same. But as two-time Super Bowl champion coach Bill Parcells still liked to say: “You are what your record says you are.” Heritage Foundation Senior Fellow J.D. Foster read us the score:

    At this stage of the Reagan recovery from the last deep recession in the early 1980s, the economy had created almost 4 million jobs, or 6 million jobs when adjusting for the size of the labor force. In contrast, under Obama the economy has lost nearly a half million jobs since the recovery began; the growth rate remains stuck around 1 percent; and the economy is sufficiently weak that the Federal Reserve is about to embark on yet another round of quantitative easing to fend off deflation.

    As the chart to the right shows, 16 months into the Reagan Recovery the nation’s unemployment had already fallen a full three points. By contrast, 16 months into the Obama Recovery and the nation’s unemployment rate is actually .1 points higher. Why was the Reagan Recovery so strong and why is the Obama Recovery so weak?

    These policies reflect the different governing philosophies of these two presidents. In his First Inaugural Address, President Reagan said: “In this present crisis, government is not the solution to our problem; government is the problem. … In the days ahead, I will propose removing the roadblocks that have slowed our economy and reduced productivity.”

    President Obama, however, sees a much larger role for the federal government. As he said on the campaign trail in 2008: “I think when you spread the wealth around, it’s good for everybody.”

    So far that hasn’t been the case.

    Posted in Economics [slideshow_deploy]

    48 Responses to Reagan Recovery vs. Obama Recovery in Pictures

    1. Mark Massie Pensacol says:

      A picture says a thousand words…so does job creation and increased tax revenue.

    2. Rob Sanderson, Utah says:

      Ronald Reagan once said, "All boats rise with the tide" meaning across the board tax cuts, with Obama who likes to spread the wealth around, it should be "All boats sink with the tide".

    3. Zoltan from Chicago says:

      Let’s bake a Pie

      I like to ask of this President and the upcoming Congress to please start bringing back the basics industry. There is no other reason than greed to import toys, T shirts, clotting, furniture, car parts, sports and Official US memorabilia etc. Your argument that the Union wages and benefits are unsustainable does not hold true. Maybe somewhat in the case of the federal and state employees even all that money is being spend in the imitate community. We have exported the basics jobs. This is like taking the mosquito out of the food chain and then to ask where did all the birds go? Government jobs are a drain on the Country. Building a road make sense only if there is a Farm, Forest and a Mine on one end and a bunch of factories on the other end, only then there is a reason to build new homes, schools, hotels and stores. I’m very much concerned that blaming any one administration is getting us divided. Everybody has taken a bite out of the proverbial pie and none have baked one.

    4. CB says:

      We still don't learn from history. My guess is the unemployment rate will continue at the same level or higher for some time still. It appears the more the government gets involved the longer they prolong it.

    5. Pingback: Reagan Recovery vs. Obama Recovery in Pictures | The Foundry … : PlanetTalk.net - Learn the truth , no more lies

    6. Let's Take A Pi says:

      UNIONS ARE NOT VIABLE ANYMORE!!! When you learn to ride a bike, people used training wheels, they were taken off when they served there purpose. Unions were our training wheels in the early 1900's now their gigantic wheels attached to our bike. Everything has a purpose and a reason. I agree with the bring back basic jobs comment, but the question is why are the jobs leaving? State,Federal, Unions all contribute to the unrealistic possibility to keep the basic jobs here. The layers of bureaucracy, taxes, rules & regulations cost money. If someone offered you a place to run your company and offered a free building, no taxes for 5 years, no layers and layers of mandates, no unions wouldn't you say hell ya! Why do people start a company? To make money, they don't do it to lose money. They more money they make the more they expand, the more they expand the more jobs you have, the more jobs you have the more money is spent for food, clothing, restaurant, schools, hotels, baseball parks and the list goes on. Call it the Circle of Life for you the Tree Huggers, Union, and Liberal people reading this. The world has gone global, we now compete for companies to build their businesses in our hometowns with not cities 50 miles away or in the next state, but with every city in the world. So what does our country do? We raise taxes, we add bureaucracy and allow all the other countries around the world laugh and take the business away. Our country is in turmoil because our government and unions say they do it for the average guy, when in fact they do it for their own personal gains. Someone is always going to have more then another person, whether it's money, looks, intelligence – let's all face the facts of life and get past this dumb dividing issue the politicians use. Equal taxes (Flat Tax) for everyone, fair salaries, less government, less unions could make us a country that's prosperous again.

    7. Pingback: A Picture Is Worth A Thousand Words: The Recovery Graphs | motorcitytimes.com

    8. Karl Quick, Diamondh says:

      Two ways out of this:

      1) hyper-inflation…. we basically default on our commitments by printing money; we pay what we "owe" our pensioners, debtors, children, etc…. but with money that is hardly worth cashing.

      2) hyper-GROWTH… we unleash free enterprise like crazy to invent and grow our way out of the mess. I THOUGHT that is what Bush was trying to do when he drove unemployment down to 4% and helped create the construction frenzy.

      Reality: NEED to invent things of REAL value…. yet another McMansion adds little to our real wealth unless there are BUYERS who are earning enough money doing real things to be able to afford it! Simple consumption does NOT create real wealth, merely redistributes it.

    9. Philip, Maryland says:

      Reagan was starting with a relatively small deficit left by Carter, as well as high interest rates created by Fed Chairman Paul Volker to smash the inflationary spiral that had plagued the economy of the 70's under Nixon, Ford and Carter.

      Reagan gave the economy a significant Keynesian stimulus by driving the deficit up (creating demand without a balancing increase in taxes), while the fed had a long way to go in dropping interest rates to stimulate borrowing.

      Obama had neither advantange — his predecessor in office created massive unsustainable deficits even during periods of relative recovery (though Bush's tax cuts never created a really vibrant economy even before the real estate bubble burst and toppled the economy into the abyss.)

      Very simply, Reagan had been left fiscal tools that allowed him to combat the recession from the demand side and also using interest rate reductions to stimulate added investment; Bush squandered all the tools and left the US in an economically dire position where little can be done to address the downturn.

      One other advantage Reagan enjoyed — the Democratic party in the House and Senate saw the recession as an emergency that they needed to work to resolve across partisan lines. The current minority sees it as an opportunity to score political points.

    10. Billie says:

      Mr. Obama, quite a contrast! What message are you trying to send? You've had and continue to have plenty of opportunities to straighten out this country but you choose to play dumb to the peoples will. Excuse after excuse if you acknowledge anything at all. What happened to a man that loses his dignity? Or, what is a man who never gains it?

      Where are all those proud health care supporters, Mr. Obama? Where's your sympathy for them? Lets see all those millions in a panoramic view.

    11. David Whalen says:

      @Zoltan – when you speak of "basics industry" (whatever that is) and "union wages," you only address part of the problem. Manufacturers have to pay these union wages, then they have to comply with ever-increasing and expensive regulations on their business, then they have to pay massive taxes on top of everything else.

      Other countries have corporate taxes of 0% or slightly higher, with fewer regulations. Liberate our economy and the jobs will come back, union or not. What does it say about America that the communist Chinese have more business-friendly government policies than the USA does?


    12. Doyle Tampa, FL says:

      Looks like your only publishing Obama Haters .This in its self is part of the problem. I have found most Republicans are Hypocrites. Just saying!

    13. Kevin H, College Par says:

      This might be the biggest piece of misinformation yet i've seen from Heritage. You have gotten increasinly bad with your biased, political misinformation, but this might take the cake.

      Let's look at the numbers and stick to the facts. For some reason, your attribute 13 months before Obama took office to Obama's record. Seriously, only the neocons and heritage and foxnewsers would blame Obama for the economy 13 months before he even took office.

      Obama has FAR exceeded the job reagan did with unemployment numbers.

      Most normal thinking people would start the record when the person actually takes over the position. When you look at stats for sports, do you also add the stats of the person who played that position the year before? Since Sam Bradford is a rookie QB this season, by your logic, we should add the Marc Bulger's 2009 stats to Bradfords stats this year. Absolutely nonsensical.

      Let's look at the real numbers. When Reagan took over – where were the unemplyment numbers? When Obama took over, where were teh unemployment numbers. This is very simple:

      REAGAN: Jan. 1981. Unemployment was 7.5%. After 2 years of Reagan, in Dec. 1982, the rate jumped to 10.8%. 23 months of Reagan in office and the unemployment rate spiked 3.3 points! It took Reagan a full 22 months longer to get the rate back to where it was when he took over – 7.5% in August of 1984.

      OBAMA: Jan. 2009. Unemployment rate was 7.7%. It peaked at 10.1% in October 2009, and today, in October 2010, it sits at 9.6%.

      First 23 months of Reagan – 3.3 point increase in unemployment rate.

      First 22 months of Obama (all we have record of) – 1.9 point increase in unemployment rate – in a far deeper recession.

      It is amazing anyone can poitn to reagan as someone who did well witht eh unemployment rate when it took him a full 44 months just to get the rate back to where it was when he took over.

      Conn, your analysis is just plan sad and extremely biased.

    14. Cameron, MS says:

      Mr. Obama wouldn't make a pimple on the backside of a good President.

    15. Cameron MS says:

      I want some of whatever some of these posters are smoking or drinking. Their comments may have a grain of truth at the start but then they spin the truth to where it is unrecognizable, as usual. If anyone really thinks that the Liberal Democrats in Congress are part of the solution instead of the root cause of the problem, there is no hope for you.

      President Bush's big problem was he tried to out-Liberal the Liberals in order to take their base. It didn't work, and backfired to boot. Both Parties need to quit playing politics and tend to the business of running the country/government in a manner that best benefits ALL of America, not just the unions, homosexuals, big business, environmentalists, or whatever group is whining the loudest. Get rid of the career politicians whose only loyalty is to themselves first and to their Party second, without the country even getting any consideration.

    16. Zoltan from Chicago says:

      You could have introduced yourself? Answer to:

      Let’s Take A Pie and Slap in the Let’s Bake a Pie Comment on October 13th, 2010

      Answer to;

      David Whalen on October 13th, 2010 Basic industry, the small business is when we cut a tree down, split it into planks and build a wagon out of it! Remember some time back, couple of decades ago or so when the business was consolidating, when the family farms were going under and small shops ware closing. That is when the big-box stores started to import from the third world country. That is when this started. I started when we validated the self-righteous union tags. That is when union contract negotiations went beyond a living wage and job security. That is when we excused that the clotting on our backs was made in sweat shops. Never the les if a business has a right to incorporate, workers should have a right to a living wage and to organize. There need to be a balance in the nature, a mosquito is as important as a whale.

      Yes, all of that is a problem, labor coast, regulations and taxes. That is a point of view of a businessman. I am not blaming the businessman; I am saying that our lawmakers and legislator failed to regulate commerce with foreign Nations to our favor.

      It says in the Constitution of the United States, Section 8. The Congress shall have the POWER….…To regulate commerce with foreign Nations…

      I believe that the Congress have regulated the commerce in favor of the foreign Nations, by allowing the massive exportation of jobs and that maybe criminal.

      Don’t worry too much about other countries and the tax on the businesses over there. The world is being run by politicians for politicians and they love socialism they get to elect themselves! Don’t worry, value added tax is coming soon to the store near you. That is how politicians make money abroad. Funny how we don’t hear much about how politicians live around the world, do you think that they are poor in the third world countries?

    17. Tim, Virginia says:

      Zoltan, Unfortunately you fail to recognize the reason jobs continue to be exported outside the U.S. It is because we TAX the life out of businesses! Businesses need profits to invest in new technology, to hire new employees, and for every bit of growth. The market is the most efficient means of controlling and directing business growth. It is driven by consumer demand (which means you and me buying what we want, need, and value). On the otherhand the socialist process of robbing the productive to pay for the lazy is the LEAST efficient process as it ignores public opinion in favor of an elitist group determining where and how to spend money. It overspends based on minimal information and underspends on needs based on lack of concern. In the market place when companies ignore the values of consumers, they fail. When the government ignores the values of constituents they are still paid off because what they receive is not tied to what they do. As long as the ruling class is happy, they can funnel the earnings of the masses to any pet project or to themselves with impunity.

    18. Pat Shafer says:

      I think Obma is doing OK, The real problem started with Pres Geo Bush starting 2 wars for us to pay for, that is what ruin our country. Under Pres Clinton , we had a suplus, and a steady economy. I will vote for Obma to fix the problems started under the Bush Presidency.

    19. Thomas, NJ says:

      Great great article, I totally agree. Reagan did all the correct things while Obama is doing all the wrong things. Wish President Reagan was still around to witness whats going on today.

    20. Tim, Virginia says:

      Kevin H., Sorry but those 13 months are valid because the budget was under the control of the democrats in congress (including Obama!) For your information, congress sets the budget, not the president. Bush's main flaw was that he used the veto FAR too little. In essence he let the democrats have what they wanted and now we are paying for it. This "Recession" was caused by the democrats and the financing rules they put in place, compounded by reckless spending under democrat control and allowed by Bush, and magnified to unrecognizable levels by Obama and his socialist agenda. Further the unions and their grapple hold on certain industries (coupled with high taxes) have driven jobs out of the country. When taxes are lowered, businesses make more money. When they make more money here than elsewhere, there is no incentive to move production outside the U.S. When they do that jobs are created and the economy grows. When the economy grows the increased profitability of the people increases tax revenue (without the need to increase tax rates). This is called getting paid for increasing value and it happens in business when valued businesses increase their profits. If our government ran the same way (like it did under Reagan) we would reduce our deficit by virtue of growing GDP and not at the expense of it. Under Reagan when tax rates declined tax revenues actually increased. Under Obama and the democrat plan to increase taxes, businesses will suffer and close, jobs will leave the country, and the recession will deepen.

    21. Rob, Newark NJ says:

      People mention the economic problem with the housing bubble as though it was a republican product… forcing banks to lend to people with lower credit ratings sinply because they are a minority is a democrat idea

      Please search the NY Times from September 30th, 1999. There is a article, "Fannie Mae Eases Credit to Ease Mortgage Lending" by Steven Holmes which discusses the wonderfully idealistic but totally unrealistic idea of lending money based on anything other than looking at numbers.

      Specifically, aside from discussing how Clinton rammed through a requirement that Fannie and Freddie should accept riskier loans it actually predicts a bubble happening with even a minor down turn in the economy. Thanks for making us as a country accept junk loans and then blaming the resultant financial mess on the people who tried to prevent it.

    22. Stephen, Raleigh, NC says:

      Kevin H. you're right it did go up for Reagan. Even after the 8/81 Economic Recovery Act. Keep in mind there was a Democratic Congress and those policies were phased in. But once the rate peaked in late 1982 it continued to fall during his time in office. We don't really know what hold the future for unemployment rates and Obama but his policies are opposite of Reagan's. That doesn't make me want to wait around to see what happens when all these new anti-business and higher taxes rate policies start "working". If you look at the charts in correlation with Tax cuts, the rate goes down each time.

    23. Zoltan from Chicago says:

      Well, like the man said, we have only the wrights that we can defend. Public opinion is not one of them. The very same politicians that were taxing us in the past we reelect over and over, we must like it. If we would not like it, it would be happening

    24. judyavelsorInverness says:

      Listen we can question & figure until the cows come home . . does not really matter. . We know what he is and what we have to do so . . . just do it.

      VOTE. . . VOTE. . . VOTE. . . VOTE. . . VOTE. . . VOTE

      . . . . . yes we can. . . . yes we can. . . . yes we can. . . .

    25. Pingback: OBAMA VS REAGAN » Just Watch the Game Blog

    26. nsfw, nyc says:

      there is only one person in all these comments so far that has done any critical thinking and thats Philip from Maryland. the rest of you are falling into the blue vs red, north v south, yankees vs red sox political trap. keep cheering for your team and calling the other side names, this is exactly what the politicians want you to do.

    27. Gary Richey Las Vega says:

      It's not red vs blue, Dem's vs GOP, or the free market vs unions. Like someone said years ago: Can't see the forest for all the trees. To really understand the mess we're in today we need to step way back and look at the event that put us on this path of economic collapse. The Federal Reserve Act in 1913 transferred the power to create money from We the People via our representatives in Congress to a privately owned bank, the Federal Reserve. Since then, the value of our Dollar has fallen by over 95%. And we don't even know who owns this bank nor do we even have the right to audit their books. Control a nations money and you control the nation. JFK attempted to limit the power of the Fed by issuing an executive order directly to our Treasury to print United States notes. Like the Fed notes, these notes would also cause inflation but would not carry any interest nor would taxpayers have to pay them back to the Treasury. After his assassination the first thing that, the now, President Johnson did was to order all banks to collect and return all United States notes to the Treasury, which immediately put us back in debt to the FED. As long as we have no say in the creation of our money supply we will remain economic SLAVES.

    28. Eve DeBary, FL says:

      Tim of Virginia, I applaud you. You have a full grasp of our country's situation.

      It's comforting to know that there are men such as you that are aware and

      knowledgeable and are letting your voice be heard. You are a true Patriot.

    29. gene Alaska says:

      I lived in Calif. and voted for Reagan, Calif. was bankrupt, Reagan turned it around. So I voted for him to be President. We had double digit unemployment double digit interest rates and double digit inflation. Guess what He cut regulations, cut taxes and turned the economy around and it lasted for 30 years. The Damocrats created the housing crash by forceing banks to make loans to people with no money down and no way to make the payments.The Damocrats have made thousands of rules and regulations and taxes and fees on business and finally the bottom dropped out. The businesses moved out. The businesses that stayed cut back on employees. When the construction jobs dissapeared because no one could buy the new houses the economy took a nose dive as all of those high paying jobs dissapeared and the money from them dissapeared so all businesses took a hit and had to lay off more workers. Obama has made it even worse and his Damocrat buddies are doing everything they can to destroy our country.

    30. 777dove says:

      nsfw you are far from centrist. Of course the ruling class elites want us to be a divided people. Way easier to control that way.

    31. David Sacramento CA says:

      Ladies and Gentlemen, read "The Forgotten Man" to find out why the Great Depression lasted longer than any country in the world. Also, read the comments written by President Roosvelt's Treasury Secretary about the failed policies of the President in his diary and unemployment rates of 20% in 1937. Remember insanity is doing the same thing and expecting different results. The Treasury Secretary we need to day is Andrew Mellow who stop a recession and paid down the national debt almost zero…….

    32. John Vancouver Canad says:

      Yeah, well Regan didn't have to follow a guy like Bush who presided over the worst economic downturn in 70 years. And he didn't have the numbnuts on the far right fighting him every step of the way. Where were you guys back then btw? Oh, that's right… defending his policies.

    33. Low On Prozac says:

      nsfw, nyc – You wouldn’t be Philip using a different name would you?

    34. Kevin H, College Par says:

      Tim, your paragraph is well meaning, but totally false and lacks any historical fact in it.

      The fact is, the article speaks to a president's performance with the economy, and it wildly off base by showing over a year's worth of data that has nothing to do with President Obama's tenure, as the article alludes to.

      You have to look at history and facts and numbers. The Democratic presidents of teh last few decades far outshined the Republicans. Not even close.

      In the 80s, Reagan reduced tax rates and one year later, the economy shrank 2.2%, at the time it – the worst performance since the great Depression. Job growth was tepid, unemployment remained high and productivtly growth was slower than the previous 12 presidents. Those are facts.

      Clinton came in and raised taxes – particulalry the top rate from 31% to 39.6%. Every Republican went nuts and said it woudl kill jobs and the economy. However, the US economy sustained the longest period of growth in the history of the country. The economy under Clinton produced a historical high of 21 million jobs, interest rates fell 40%, inflation fell 2.5% (half of average of previous 12 years) and the largest surplus in US history was created – despite the mammoth deficits Reagan created. Keep in mind, not a single republican voted for the Omnibus bill that created 4 straight years of budget surplus.

      Next thing we know, Bush takes over. Cuts the tax rates and in his year, took a surplus and created $158 billion in deficit. By 2008, his policies created only 1 million jobs (compare that to 21m under Clinton), unemployment shot up to 7.6%, poverty rate rose 19%, househodl net worth fell 25.5%, and record deficit of over 1 trillion was left.

      Pleas try and dispute any of those numbers. The speak for themselves. Those who don't know their history are doomed to repeat it.

    35. lucas says:

      Lets start with the facts ; The top 2 percent own own 85 percent of the countrie's purchasing power . The Federal bank has to continue to print out money to feed this wealth

      President Reagan cut marginal tax rates with the Economic Recovery Tax Act of 1981 which didn't go into effect until 1985 . President Obama is about to allow the largest tax cut to the richest 2 percent of Americans to expire, wich actually would return purchasing power to the federal bank.

      President Obama set set aside money for medicaid and teachers. He guaranteed a loan to GMC this is not the same thing as to year and date the loan has been paid in full.

      President Reagan was responsible for telecommunications and healthcare cartels. President Obama is swimming upstream against these same cartels C'mon does it really make sense that the same financial institution that gives me a house loan can make a billion dolllars if I fail? Federal rate for bank borrowing is 0, why is my rate still 5-8%?!!

      The wealthy are the right moves and preparing for them and their famillies to stay so for years to come. However I should not have to pay for my indebtness.

    36. Greg, Chicago IL says:

      To John Vancouver Canada, wow, your memory is just about as short as your most unused appendage. Reagan followed Carter, arguably the worst president in US History across the board, and certainly the worst in economic terms (ok, except maybe for FDR). His policies marked some of the worst inflation and unemployment in history short of the Great Depression. If parasites like you from the great white north want to comment on the history of your symbotic host, I suggest you read a teensy bit of history first. That or stop getting your info from MSNBC.

    37. John Sheridan, Princ says:

      Wow; a lot to comment on. I like pie, too bad the socialist never bakes one, they only eats other peoples pies. The economic downturn started with the 2007 Congress, (Pelosi & Reid) and has gotten "progressively" worse. One should track the rise and fall of gasoline prices from the end of 2007 thru the week after Obams was elected; you can readly see that the economy was manipulated to elect Obama and it backfired on everyone except Obama and his minions! The Congress and Obama have a responsibility to foster trade which is beneficial to the Citizens of the United States, not to every other country. The Unions no longer represent the legitimate interests of the worker and have not for over 60 years, I have been working for over 40 years and every union I have seen or have been forced to join was completely useless!

    38. MARK, Chicago says:

      Look at the first chart in the link below and explain to me how republicans can be thought of as fiscally responsible. It's the biggest myth in politics.


    39. Jim says:

      Why is it lost on the left that they have had Congress going on 4 years now??? Seems awfully convenient .

    40. Adam, College Park, says:

      Kevin H,

      While your comments seem mostly factual, I can't believe you brought up the "Clinton surplus". Any president could project a surplus if they were able to steal money out of Social Security and other inter-governmental programs. If you look at the national debt each year from 1993-2001 the national debt increased.

      Clinton was able to claim a surplus because of the public-owed debt went down. If you look at the inter-governmental holdings portion of the national debt during these years you will see that the numbers continually rose at a higher level than the public-owed debt decreased.

    41. Pingback: Graph of the day | Hoystory

    42. Charie, Wisconsin says:

      I know few of the percentages that are being tossed around here like cracked corn to the chickens. I do know one, though and that's the one that said there was 4.5% unemployment towards the end of the Bush administration. Every business had a sign out reading, "HELP WANTED".

      I do remember Jimmy Carter's administration – the lack of gasoline, the constant drumbeat that we shouldn't waste energy – keep your thermostats at 66, turn of your lights – don't waste energy on Christmas tree lights – the huge market in quilt sacks you could put on so you wouldn't suffer from the cold while watching TV, reading or playing cards. And the constant scolding, scolding, scolding and being blamed for the malaise which was brought on by the Malaiser in Chief.

      It was enough to make one want to bring back the dunking stool. This administration is on the same track and every misstep they make takes us closer to the economic chaos that most see in our future.

      Don't bellyache about Republicans being the party of No and not being bipartisan. This administration is the most divisive I've ever seen and the liberals caterwauling at George Bush all through his administration. are now in charge. It's too bad they apparently have no idea of what they're doing and have never been in touch with the citizens of this country to have any idea of what they might want in a government. Of course they wouldn't take our advice anyhow. When power and control are your aims, it makes no difference what anyone else says.

    43. Pingback: Bloomberg Ignores Obama Tax Hikes | National Review Institute Blog

    44. dan fryk says:

      I am finding conflicting unemployment rates for the Reagan years. The numbers I am finding show the rates directly opposite of the chart. Please clarify.

    45. Pingback: Tweets that mention Reagan Recovery vs. Obama Recovery in Pictures | The Foundry: Conservative Policy News. -- Topsy.com

    46. Jason says:

      You neglect to point out that Reagan RAISED taxes several times during his administration, and the top marginal brackets during his time in office were SIGNIFICANTLY higher than they are now.

    47. Ken says:

      Are all of you anti Obama people out there just cutting your own wrists because you hate President Obama, or do you really believe that what he is trying to do for America is wrong? Unless you are in the top 1% of the nations wealthiest people, you can not really believe that he is wrong. What he is proposing would only help and support you. Ronald Reagan believed in exactly what President Obama is proposing. In todays political culture, Ronald Reagan could not win the nomination for the GOP!

    48. SandyShores says:

      The Reagan recovery from the last deep recession in the early 1980s, the economy had created almost 4 million jobs, or 6 million jobs when adjusting for the size of the labor force. In contrast, under Obama the economy has lost nearly a half million jobs since the recovery began;
      Lets not blame bush who in fact ran a great economy for the destruction of Obama. Obama has proven his way does not butter the bread of a nation. Obama has had three years to fix things and all we have seen is a 3 percent increase in welfare and horrifying job loss. Blaming Bush for Obama's mess is really getting old and is not a fact. Obama continues to waste money on the solyndras and health care we can clearly NOT afford, instead of focusing on the what a (real economy) needs to grow.
      Bush did NOT spend three years threatening jobs out of the market. Bush did not try to force people to buy a car that the people clearly cannot afford. I actually now see Obama as out of touch with the simple reality. It takes a nation of NONE government people to support a nation. The government cannot supply jobs that can pay the bills of a nation.
      Government = Liability
      Private sector the sector that has been under attack by Obama and his tax threats and raised taxes and fees is the sector that has suffered the most and what the real fact is THEY ARE the tax payers they support the nation and it can never be the other way around and be a success. Because
      The private sector is the asset NOT the liability.
      If you set out to do the opposite you get the Obama economy. 2000 more stores set to close in 2012 Thanks to the Obama economy.

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