Reaganomics: Rhetoric vs. Reality

Reaganomics: Rhetoric vs. Reality

Reaganomics: Rhetoric vs. Reality

Reaganomics: Rhetoric vs. Reality

Excerpt

The program we have developed will break (the) cycle of negative expectations. It will revitalize economic growth, renew optimism and confidence, and rekindle the Nation's entrepeneurial instincts and creativity.

The benefits to the average American will be striking. Inflation—which is now at double digit rates—will be cut in half by 1986. The American economy will produce. . . . nearly 3 million more (jobs) than if the status quo in government policy were to prevail. The economy itself should break out of its anemic growth patterns to a much more robust growth trend of 4 to 5 percent a year. These positive results will be accomplished simultaneously with reducing tax burdens, increasing private saving, and raising the living standard of the American family.

—The White House, A Program for
Economic Recovery, FEBRUARY 1981.

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