| johnsobas said: the president can't control inflation. It's not even possible. The reason inflation slowed so much is because Paul Volcker kept raising interest rates over and over again breaking the cycle of inflation. It has NOTHING to do with the president. The stock market crashing is directly related to that as well, as raising interest rates to 20% severely damages the economy. If they did that now the economy would completely collapse and the US would default on it's debt. Tax policy barely even matters in that kind of economic environment. The soviet union basically bankrupted themselves. I like Reagan a lot more than most politicians but what you said is just wrong. |
I didn't specifiy that Reagan alone did it or his tax reforms were the cause but it was one of the goals he achieved at the end of his presidency even though most of the credit goes to the fed at the time ...
