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Saturday, August 25, 2012

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Donald Pay

Better be careful about comparing data like this, because it makes the opposite case you want to make.

The Employment-Population ratio increased during the Reagan Administration increased because not only did the employment rate fall, it fell in the economic sectors that provided good wages and benefits. The loss of those middle class supporting jobs, especially among married males, meant married women with children had to go into the labor force in order to maintain a middle class lifestyle. You also had the baby boom generation at its height going into the labor force, thus swelling the percent of the population in the labor force. You also had a Democratic Congress that worked with the Reagan Administration to make sure the economy recovered. That included, by the way, deficit spending. Also, wringing out inflation and the subsequent lowering of the interest rate caused business and housing expansion.

What you have with the Obama Administration are quite different economic and political realities. First, the Bush Depression was a lot more severe than the Reagan Recession, and it hit housing construction harder. Second, the baby boomer retirement began, particularly in construction, teaching and other public services, and many older workers want to get out while benefits are still guaranteed. Third, there has been no help from the Republican Party (really it's been treachery) on economic policies that would lift the economy.

Another KB fail on economic policy.

larry kurtz

It's as if KB is drowning in debt and the only way out is to blame somebody else for his own failure to thrive: how conservative.

Dave

FYI, the TOTAL NATIONAL DEBT increased 188% with an annual rate of increase around 14% during the Reagan years... BushI increased the DEBT by another 55%. And BushII effectively doubled the total national debt during his 8 years... The TOTAL DEBT AS A % OF GDP was on a downward trend at 33% when Reagan was elected and by the time Obama took office it was 86%. I suspect that if Obama had the ability to spend like Reagan, we'd be in a better place. But the economic reality of the Reaganomic legacy leaves US with a rather inadequate lifeboat to rescue such a titanic economy.

5

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