{"id":6725,"date":"2010-08-24T10:10:29","date_gmt":"2010-08-24T14:10:29","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=6725"},"modified":"2010-08-24T10:48:20","modified_gmt":"2010-08-24T14:48:20","slug":"reagan-recovery-slashed-unemployment-from-10-8-to-7-4-in-18-months","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/6725\/reagan-recovery-slashed-unemployment-from-10-8-to-7-4-in-18-months\/","title":{"rendered":"Reagan Recovery Slashed Unemployment From 10.8% to 7.4% in 18 Months"},"content":{"rendered":"<p>In\u00a0CFIF&#8217;s\u00a0<em>Liberty Update<\/em> last week, we <a href=\"http:\/\/cfif.org\/v\/index.php\/commentary\/43-taxes-and-economy\/717-obama-driving-us-out-of-a-ditch-or-setting-the-car-on-fire\" target=\"_blank\">highlighted<\/a> how President Obama isn&#8217;t so much &#8220;pulling us out of the ditch,&#8221; but rather setting our nation&#8217;s car on fire.\u00a0 Instead of spending his time claiming credit for our inevitable cyclical rebound, Obama should recognize that his policies of higher spending, taxation, regulation and debt are only subduing it. To illustrate, we contrast the remarkable gross domestic product (GDP) growth during the Reagan recovery delivered by tax cuts, reduced regulation and a stronger dollar versus our current stagnation and possible &#8220;double-dip&#8221; recession.<\/p>\n<p>Comparing unemployment trends then versus now provides another vivid illustration of the toxic effect of the Obama-Pelosi-Reid economic agenda.\u00a0 From December 1982 to June 1984 &#8211; the first 18 months of the Reagan recovery &#8211; U.S. unemployment <a href=\"http:\/\/data.bls.gov\/PDQ\/servlet\/SurveyOutputServlet\" target=\"_blank\">plummeted<\/a> rapidly from 10.8% to 7.2%.\u00a0 In contrast, over 13 months since our <a href=\"http:\/\/bea.gov\/national\/nipaweb\/TableView.asp?SelectedTable=1&amp;ViewSeries=NO&amp;Java=no&amp;Request3Place=N&amp;3Place=N&amp;FromView=YES&amp;Freq=Qtr&amp;FirstYear=2009&amp;LastYear=2010&amp;3Place=N&amp;Update=Update&amp;JavaBox=no#Mid\" target=\"_blank\">current economic rebound<\/a> commenced in July 2009, U.S. unemployment has <a href=\"http:\/\/data.bls.gov\/PDQ\/servlet\/SurveyOutputServlet\" target=\"_blank\">stagnated<\/a> from 9.4% to its current 9.5%.\u00a0 Of course, it is theoretically possible that unemployment will plummet by three percentage points over the next five months to match the Reagan recovery, but not even Joe Biden is silly enough to predict that.<\/p>\n<p>It&#8217;s no mystery how to unleash America&#8217;s economic vigor and bring recovery:\u00a0 less government and more economic freedom.\u00a0 It&#8217;s just a matter of electing leaders who will actually pursue it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In\u00a0CFIF&#8217;s\u00a0Liberty Update last week, we highlighted how President Obama isn&#8217;t so much &#8220;pulling us out of the ditch,&#8221; but rather setting our nation&#8217;s car on fire.\u00a0 Instead of spending his time claiming credit for our inevitable cyclical rebound, Obama should recognize that his policies of higher spending, taxation, regulation and debt are only subduing it. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[19,102,24,1704,61,179,92,105,71,28,18],"class_list":["post-6725","post","type-post","status-publish","format-standard","hentry","category-posts","tag-economy","tag-free-market","tag-obama","tag-reagan","tag-spending","tag-stimulus","tag-supreme-court","tag-tax","tag-taxes","tag-tea-party","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/6725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=6725"}],"version-history":[{"count":11,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/6725\/revisions"}],"predecessor-version":[{"id":6729,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/6725\/revisions\/6729"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=6725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=6725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=6725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}