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Thread: Obama Plans 20-day, $4 million Vacation

  1. #531
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    Re: Obama Plans 20-day, $4 million Vacation

    Quote Originally Posted by sawyerloggingon View Post
    It's really pretty funny watching all you obama worshipers contort yourselves into pretzels trying to excuse hope and CHANGE guy by saying he's no worse than previous Rep presidents.
    In terms of vacationing and traveling on Air Force One, not only is he not worse, but he's far better, especially better than Bush; who as I showed, logged 193,700 miles just to his his ranch in Crawford. That's ten times the miles that Obama logged to Hawaii and back twice.

    The real question is why are you complaining when he spends less in travel expenses than those for whom you supported?

  2. #532
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    Re: Obama Plans 20-day, $4 million Vacation

    Quote Originally Posted by Grant View Post
    Reaganomics - Wikipedia, the free encyclopedia

    And then after turning the economy around, as every American knew at the time, he deservedly won 49 out of 50 States. If you know all this why do you repeat the same question?

    Are you a teenager?
    At least you kind of answered. I don't put any value in Wikipedia since anyone can edit it; however, I get the sense that this is the best I'm going to get from you, so I have no choice but to use it.

    Let's review what that wiki article credits Reagan with doing to turn the economy around.

    * reduce the growth of government spending

    Well that one was just a farce as Reagan spent more as a percent of GDP than any president before him except for WWI and WWII. Even in real figures, spending did not drop substantially until his second term.

    * reduce the federal income tax and capital gains tax

    That he did. However since federal income taxes and capital gains taxes were already at near historic lows, lowering those taxes was not an option for Obama.

    * lower nominal interest rates

    That he did as well (actually Volker did), but here again was something Reagan was able to do to turn the economy around which was not an option for Obama since interest rates were already at rock bottom when he took over.

    * reduce inflation

    Also true, but once again, this was possible for Reagan but for Obama since inflation was at near zero when he became president.

    The bottom line is that while Reagan took over a troubled economy which he had tools at his disposal to combat (lower taxes from 70%, lower interest rates from 20%, and lower inflation from 12%) -- Obama inherited a structurely broken economy with none of those tools at his disposal because they had already been exhausted before he even became president. Factor in that Obama inherited a far deeper recession and you're left with comparing apples to oranges.

  3. #533
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    Re: Obama Plans 20-day, $4 million Vacation

    Quote Originally Posted by Sheik Yerbuti View Post
    At least you kind of answered. I don't put any value in Wikipedia since anyone can edit it; however, I get the sense that this is the best I'm going to get from you, so I have no choice but to use it.

    Let's review what that wiki article credits Reagan with doing to turn the economy around.

    * reduce the growth of government spending

    Well that one was just a farce as Reagan spent more as a percent of GDP than any president before him except for WWI and WWII. Even in real figures, spending did not drop substantially until his second term.

    * reduce the federal income tax and capital gains tax

    That he did. However since federal income taxes and capital gains taxes were already at near historic lows, lowering those taxes was not an option for Obama.

    * lower nominal interest rates

    That he did as well (actually Volker did), but here again was something Reagan was able to do to turn the economy around which was not an option for Obama since interest rates were already at rock bottom when he took over.

    * reduce inflation

    Also true, but once again, this was possible for Reagan but for Obama since inflation was at near zero when he became president.

    The bottom line is that while Reagan took over a troubled economy which he had tools at his disposal to combat (lower taxes from 70%, lower interest rates from 20%, and lower inflation from 12%) -- Obama inherited a structurely broken economy with none of those tools at his disposal because they had already been exhausted before he even became president. Factor in that Obama inherited a far deeper recession and you're left with comparing apples to oranges.
    Yeah, whatever.

  4. #534
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    Re: Obama Plans 20-day, $4 million Vacation

    Quote Originally Posted by Grant View Post
    Yeah, whatever.
    Now that wasn't so difficult, now was it?

  5. #535
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    Re: Obama Plans 20-day, $4 million Vacation

    Hmmm. The average year-to-year spending increase under Reagan (FY82-89) was 7.7%. Compare to 3.0% under Clinton. Reagan cut taxes in 1981. That was followed by what is still the largest peacetime tax increase in US history in 1982 and further tax increases in 1983, 1984, 1985, 1986, and 1987. He cut interest rates only after pushing them to record levels and creating a deep recession. Inflation subsided because the oil crisis ended by becoming a glut. Prices went from $90 per barrel in 1981 to $30 per barrel in 1986. Might have had something to do with it. Reagan didn't.

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