Ragen Economy ?????

Question

Why is it that Ronald Ragen is looked at like a grate president when he took a Economy that was Amazing and changed into the nations biggest Deficit of all time until Gorge W Bush 2? He destroyed the national balance and people look at his economics as something to model current planes off of?

WHY?????

Answer 1

He was an actor with a great Hollywood smile and he could make those were poor feel good about being poor. Extremely charismatic.

He was a great president.....if you were wealthy.

He did prove that trickle down economics doesn't work. It didn't work then, and it isn't working now.

Answer 2

Well, I think you could argue that Reagan gets more points for his work on foreign policy. In particular, he had a huge role in the end of the Cold War.

In terms of economics, his legacy isn't so clear. He inherited high unemployment and high inflation, which was considered nearly impossible before it happened. He (with the help of the Fed) essentially broke the back of inflation first with economic policies. That led to a recession, but it paved the way for a recovery. That economic expansion essentially continued through 9/11 and its after-effects.

Did trickle-down economics work? I don't think so. The recovery was partly financed by deficit spending. Reagan did wound the labor movement, for better or worse, with the firing of the air traffic controllers, and he made tax hikes death for politicians who voted for them.

Answer 3

He is considered a personal hero by many neoconservatives, and obviously, not by Democrats.

The reason for this is that he forgot the working men and women of this country. He totally bought the lie of trickle down,  which says that if you enrich the rich and megacorps enough, they will share some of their wealth in the form of increased wages and benefits, and all society will prosper. It has been shown never to wotk that way, however. Wealth gets self-invested or stocked away, and enriching the rich and megacorps with huge tax breaks and favors, just does a  friend of Reagan's a favor. The same people who got all kinds of breaks from Reagan sent a record number of jobs overseas. America lost it's position as the number one manufacturer of durable goods in the world. Our economy and world status has never recovered from the Reagan years.

So in truth he was beloved by some, but basically very bad for the country and the planet.

Truth here, not PC.