I remember when President Obama took office. The Banking system was in free fall. The Auto Industry was on the brink of failure. The country was involved in two wars. Bush had just passed an unfunded Medicare Part D. Bush had also added a huge tax cut to our deficit. Along with all of these inherited problems, the Republicans made it clear that they would not work with the President on any programs that would help reelect him. He was on his own. Also he was disrespected and called names by Tea Party Members. Lies were told about him and .as President. He had to eat all this crap with a smile and continue to show up for work each day. I thought it would be nice to look at one aspect of the Republicans Saint Ronald Reagan. Reagan had the worst record on Unemployment since 1933, much worse than Obama's
And it was caused by his own policies.
Unemployment was flat for the first year he was in office it only spiked after he cuts taxes.
Unemployment only declined after he raises taxes.
He had the worst unemployment rate since the Great Depression, 0.7% higher than Obama
01/1981 - Unemployment rate 7.5% …. Reagan sworn in.
02/1981 - 7.4%
03/1981 - 7.4%
04/1981 - 7.2%
05/1981 - 7.5%
06/1981 - 7.5%
07/1981 - 7.2%
08/1981 - 7.4% * Reagan CUTS taxes on top 1%; says unemployment will DROP to 6.9%.
09/1981 - 7.6%
10/1981 - 7.9%
11/1981 - 8.3%
12/1981 - 8.5%
01/1982 - 8.6%
02/1982 - 8.9%
03/1982 - 9.0%
04/1982 - 9.3%
05/1982 - 9.4%
06/1982 - 9.6%
07/1982 - 9.8%
08/1982 - 9.8%
09/1982 - 10.1%
10/1982 - 10.4%
11/1982 - 10.8% * Unemployment HITS a post DEPRESSION RECORD of 10.8%.
12/1982 - 10.8%
* THE FIRST OF REAGAN'S FIVE TAX INCREASES GOES INTO EFFECT. UNEMPLOYMENT DROPS
01/1983 - 10.4%
02/1983 - 10.4%
03/1983 - 10.3%
04/1983 - 10.2%
05/1983 - 10.1%
06/1983 - 10.1%
07/1983 - 9.4%
08/1983 - 9.5%
09/1983 - 9.2%
10/1983 - 8.8%
11/1983 - 8.5%
12/1983 - 8.3%
01/1984 - 8.0%
02/1984 - 7.8%
Three years after he took office, unemployment is still not back down to the level it was when he took office
Reagan, renowned by Republicans as a tax-cutter, also increased revenue about a dozen times when confronted with surging deficits. The Treasury Department has estimated those measures would be the equivalent of $300 billion annually today -- more than what many Democrats are now seeking as part of a deal to raise the U.S. debt ceiling.
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