Libs vs Reagan

It has been fun and highly entertaining watching a) Obama singing the praises of Ronald Reagan and b) Having him get slammed for it by Hillary Edwards.

What Obama said of Reagan was very true: Reagan was an agent of change when this country needed it. If you grew up in the 70's and witnessed first hand the Jimmy Carter economy, you should remember the gas rationing, 18-20% Mortgage Rates, high unemployment, 70-80% top marginal tax rates and a general 'malaise' about life in America all generated from liberal lofty (and expensive) but unrealistic policies which amounted to a strangle hold on the economy. These policies centered around 'energy independence' (sounds great) but these were government mandated and not market driven.

Remember the Iranian Hostage Crisis?, instead of freeing the hostages using America's might, he created an 'oil embargo' against Iran which further exacerbated the world oil market. After 444 days of captivity, the hostages were freed because Carter signed the Algiers agreement brokered by Warren Christopher out of fear and weakness. Reagan would not have signed this crappy agreement.

Reagan changed all of this by attacking the root causes of America's Malaise. Reagan attacked the root cause of the economic downturn by cutting the tax rates significantly and removed other federal interventions on growth. What resulted was an incredible economic upturn that we are still enjoying today. (Yes, deficits went up, but this was due to overspending by the democrats in charge of congress; tax receipt also went way up as well) And he ended the cold war by standing up to the USSR in their backyard and said'... Mr. Gorbachev, tear down this wall!'

Liberals think Reagan's actions were wrong and took America in the wrong direction. I guess they like the long gas lines, high unemployment, high taxes and high interest rates and feeling the malaise of the 70's because that is exactly what they are advocating by attacking Ronald Reagan and proposing their government mandates upon businesses.

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