Reagan inherited bad economy but didn’t blame President Jimmy Carter
To the Editor,
Karin Barbee’s letter of 10/18 trotted out another left-wing fallacy — “Everything is George Bush’s fault.” She fantasizes that things would be wonderful if Obama had inherited a good economy. Well, Karin, Ronald Reagan inherited a much worse economy from Jimmy Carter — 11 percent inflation, 18 percent mortgage rates, rising gas prices, unemployment >10 percent, and weakness overseas. Sounds familiar, doesn’t it?
But Mr. Reagan didn’t blame Carter for everything; he put policies in place to grow the economy. He cut taxes on top wage earners from 70 percent to 28 percent, and what happened? Federal revenues doubled, over 20 million new jobs were created, unemployment plunged, gas prices fell, and the U.S. had its largest peacetime economic expansion in history.
Mr. Obama had a similar opportunity! What has he done? Added 12 million food stamp recipients; provided us with 43 months of >8 percent unemployment, 11-15 percent among minorities, one in six U.S. citizens in poverty, including 3.5 million more women; 23 million people out of work; and worst of all, almost $6 trillion in new debt in only four years! Add the middle class tax increase in Obamacare, his cover-ups and failures in the Middle East, and $4 gasoline, and this Presidency looks eerily similar to the incompetent Jimmy Carter. And do you realize that we, the taxpayers, are on the hook for $25 billion until GM sells enough Chevy Volts to pay us back? That’s the real fact about “saving” the auto industry, and Chrysler is now owned by foreigners.
When Mr. Romney politely calls this disappointing, he’s absolutely right. When Mr. Reagan asked, “Are you better off than you were four years ago?,” voters replied with a repudiation of Carter. Obama had a chance to improve things. He hasn’t. If you want four more years of this, vote for it. I believe, as Mr. Romney does, that we can do better than this. Your President should provide leadership, instead of making excuses. He had a Super-Majority in both Houses of Congress for two years. He could have done anything he wanted to fix things. He didn’t! Obama and Senate Democrats own this economic mess now — it’s been four years — blame them, not Mr. Bush.
Can you afford four more years of this, voters? I can’t, and neither can our country. Mr. Romney is clearly the better choice to lead America back to greatness again.