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Originally Posted by uncle phil
are you serious?
between ronnie raygunz and GB I, this country was seriously headed for the economic toilet. i defer to Host for the particulars...
where were you in the 70's and early 80s?
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We can step back in time to Kennedy and his sending more than just a patrolling "police action" to Vietnam....by the time Johnson took over, we were so far into the pit, he couldn't see his way out....
Remember the "gas crisis" of about 1978-78? Wasn't Reagan. Carter.
In 1981, during Reagan's first full year, interest rates went up
in a bid to stop the "great inflation of the 60's and 70's". The recession that followed was dubbed the worst since the Great Depression, but was shortlived; within one year, the US experienced a "robust expansion".
Source
Every election year, we go through an "economic crisis". It's fear generated by the money traders but we blame it on whomever holds office. Of course, the president of time isn't totally blameless, but neither is he wholly responsible. But it's so much easier to blame one guy than memorize the names of all those who truly are responsible.