December 16, 2008
-- by Dave Johnson
This chart explains where the economy must go, and why. Sorry.
It wasn't just the housing bubble, it was debt in all of its forms.
For extra credit, see if you can identify the year Reagan and the "supply-siders" took office and any changes that occurred at that time.
P.S. I will not accept any cleaning bills.
Posted by Dave Johnson at December 16, 2008 3:11 PM
Coolidge, JFK, Reagan, BushII cut taxes. Supply siders policy one and all. Post cut, economic growth was 3-4%, Federal revenue increased.
FDR increased spending and KEPT the Hoover tax increases. Unemployment rate was 14% in 1940.
LBJ, Nixon, Ford, Carter bumbled their way through tax increases and spending increases. The stock market, and thus WORKER PENSIONS, crashed from 1968 to 1982
The grand experiment of tax increases and deliberate Keynesian spending begins now. Break out the depression era feel good music.
Posted by: mace at December 21, 2008 6:34 PM
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