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Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108
It was difficult, but only because inflation and thus interest rates were so high. My parents purchased two houses between 1977-1982, and refinanced after rates came down. They were getting large cost of living raises twice a year to compensate for the inflation rate, so while inflation was an inconvenience, it did little to harm their standard of living long term.
Part of the way that Reagan "fixed" our mess was by the OPEC restrictions falling apart and thus the cost of oil declining (which would have happened no matter who was president), and by practicing extreme keynesian economics. He increase spending and cut taxes simultaneously (which explains why the debt rose by such a large percentage). By todays standards, Reagan would not have been electible as a republican and certainly wouldn't have been the least bit acceptable to today's tea party.
I'm 50, and I suspect that the reason that so many people my age and older are so afraid of inflation is because we did live during the most inflationary period in the history of our nation and it scarred many of us.
Haha... you're funny.
It's obvious you didn't live during the mess Carter created and Reagan fixed. It was practically impossible to buy a house then.
It was difficult, but only because inflation and thus interest rates were so high. My parents purchased two houses between 1977-1982, and refinanced after rates came down. They were getting large cost of living raises twice a year to compensate for the inflation rate, so while inflation was an inconvenience, it did little to harm their standard of living long term.
Part of the way that Reagan "fixed" our mess was by the OPEC restrictions falling apart and thus the cost of oil declining (which would have happened no matter who was president), and by practicing extreme keynesian economics. He increase spending and cut taxes simultaneously (which explains why the debt rose by such a large percentage). By todays standards, Reagan would not have been electible as a republican and certainly wouldn't have been the least bit acceptable to today's tea party.
I'm 50, and I suspect that the reason that so many people my age and older are so afraid of inflation is because we did live during the most inflationary period in the history of our nation and it scarred many of us.
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