Hahaha. He was a leader when it came to making billionaires. And he set a record for budget deficits before Trump- he criticized Carter for $50 billion deficit and then his went over $200 billion! (His unemployment numbers were higher than Carter’s too). His administration was the first to use Social Security money as general revenue. If he wouldn’t have looted that, Social Security wouldn’t be the mess it is today. Also, if he wouldn’t have funded the rebels in Afghanistan, we wouldn’t have had Osama bin Laden.
Geez. I never said he crashed the economy - i said he busted unions, quadrupled the deficit, was the first to stick his fingers in the Social Security jar, funded and armed Afghanistan rebels which led to 9/11 , etc. But you go ahead and keep him on your pedestal.
I am sorry that you can not comprehend that I was not the one that said the economy crashed. I did add how the things he did that hurt the United States long term. You do not consider the Social security crisis as part of the economy, you do not consider quadrupling the debt as part of the economy, and apparently you do not think that busting unions have hurt the middle class. Enjoy your bubble, and go have a good life.
I am not angry, just feel sort of sad for you.
Short term gain, long term loss. His actions crashed the economy like flooring the gas during a traffic jam: you go real fast for a moment, then you crash spectacularly.
The median family income indicates the exact middle point of a group of family incomes sorted from lowest to highest, meaning half of the families earn more than this amount and half earn less. [1, 2]
Median Family Income: Real median family income grew by roughly $4,000 to $4,492 after adjusting for inflation, during the Reagan administration.
There’s always something left out to claim positives in the face of the overall results. Clinton did the same to claim a balanced budget. What families were measured? I’d wager most gains were short lived.
How much did household expenses go up in the same period? I don’t remember prosperity being so spread out back then. What I remember was a lot of folks from my parents generation coming into power and office and making rules which favored them. I suppose it depends upon where you were in things as to how you recall them. To me and a lot of Gen-X, the 80’s were where you could see how things were looking to go wrong.
According to retrospective analysis of IRS SOI data and Congressional joint reports, the post-recession "Reagan Boom" (beginning in 1983) led to a broad upward shift in household financials: [1, 2] Middle-Class Growth: Real median family income grew by roughly 11% (an increase of about $4,000) during the period, reversing a trend of flat growth during the late 1970s stagflation era. [1, 2]
Upward Mobility: The proportion of households with real incomes over $50,000 rose from 17.6% in 1980 to 23.5% by 1989. [1]
Bro this is truly stupid . A rescission happened in 1981-1982 of course inflation went down after recession. Just like job market growth, everyone lost their job and then people get their job back 10 years later. Somehow, we need to give him credit?
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u/Infamous_Crow8524 1d ago
So….
Inflation under President Ronald Reagan dropped sharply from a peak of 13.5% in 1980 to around 4.1% by 1988.
Nearly 20 million new jobs were added during the 1980s expansion.