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I hear a lot of GOP members talk of Ronald Reagan as if he was the second coming of the deity. They call themselves Reagan Conservatives as if it was something of which to be proud.
But I remember Reaganomics: The idea that you give tax breaks to the very wealthy and subsidies to corporations in order that they will create employment. They called it “Trickle-Down Economics”. It sounds like a reasonable concept, until reality sets in, and you see that the only jobs created are low-wage positions with little or no benefits.
Many families, including my own, had to rely on both parents earning an income in order to survive.
Whoopi Goldberg compared Trickle Down economics to the wealthy relieving themselves on the working class. (I’m paraphrasing, of course.)
The thing that confuses me most though, is this idea that Reagan somehow fixed our economy. If Ronald Reagan did such wonderful things for our economy, why were we chanting, “It’s the economy, Stupid” by the end of George Bush Sr’s first term? Theoretically, if Ronald Reagan set the United States of America on the path to economic recovery, Bush Sr. should have enjoyed a second term in office. Bush Sr. would have been able to shrug off any question about the economy.
But he didn’t.
America was still feeling economic pains. “It’s The Economy, Stupid” was Bush Sr’s downfall. Then after William Jefferson Clinton became the 42nd President, the United States had a surplus economy, for the first time in over two decades.
So please don’t lie to me and the rest of America with fantasies of how great Ronald Reagan was for this country’s economy. It’s not the reality that I lived.