Especially when you compare to Reaganomics. Stephen Moore does a 30 month into their Presidency comparison in this mornings Wall Street Journal to see who comes out on top. He starts with this observation:
The two presidents have a lot in common. Both inherited an American economy in collapse. And both applied daring, expensive remedies. Mr. Reagan passed the biggest tax cut ever, combined with an agenda of deregulation, monetary restraint and spending controls. Mr. Obama, of course, has given us a $1 trillion spending stimulus.
Those of us old enough to remember how the economy took off during Reagan will not be surprised to discover that Reaganomics easily outshines the mess President Obama has lead us into:
By the end of the summer of Reagan’s third year in office, the economy was soaring. The GDP growth rate was 5% and racing toward 7%, even 8% growth. In 1983 and ’84 output was growing so fast the biggest worry was that the economy would “overheat.” In the summer of 2011 we have an economy limping along at barely 1% growth and by some indications headed toward a “double-dip” recession. By the end of Reagan’s first term, it was Morning in America. Today there is gloomy talk of America in its twilight.
Since the current administration doesn’t seem to recognize that they are driving the economy further and further into the ground, I’d say it’s time for a change. Let’s elect a President in 2012 that understands that cutting budgets and tax rates actually brings more money into the treasury and puts Americans back to work!
Our Hope IS Change in 2012
