Lv 5
asked in Arts & HumanitiesHistory · 2 months ago

why do many say that Ronald Reagan's initiated policies caused the downfall of the US economy?

Update:

why then many say that the economy has never been so good? how the REAL ECONOMIC situation is really for the average person compared to before Regan?  and was it just reagan or the policies in the 1970s too?

what about the deunionizing the workplace?

14 Answers

Relevance
  • 2 months ago
    Favorite Answer

    There is a book that explains it for you, O: "America, What Went Wrong?" (1991) by Donald Bartlett and James Steele, available on amazon.com.  You might also want to expand your knowledge a bit more with the 2017 book by investigative award-winning journalist Jane Mayer: "DARK MONEY: The Hidden History of the Billionaires Behind the Rise of the Radical Right"---and see the word "radical" as meaning domestic-terrorist anti-democracy levels for the KOCH DONOR NETWORK government overthrow hidden agenda.  

    The economy is what experts call a "lagging indicator" that can be explained with an analogy: A flooding river (economic downturn) due to torrential rains (supply-side upside-down-pyramid economics) continues to flood long after those torrential rains have stopped. 

    The absolute worst Reagan era mistake was the 1988 abrupt firing of PATCO (the Air Traffic Controllers Union), which unleashed bottomless-pit CORPORATE GREED and declared ALL-OUT WAR on our already great nation's full-time workers---especially workers with benefits such as paid vacations, a vested (employer-contributes) pension plan, overtime pay, and employer-provided health care.  By the time this disaster decision was done, Ronald Reagan had full-blown Alzheimer's, so it was the anti-union, anti-worker, anti-democracy Koch Donor Network, Karl Rove, and the ever-evil oilman Dick Cheney who set up the corporate-colluding firing of PATCO, but the long-range negative effects on our economy set up the conditions of economic downfall (to include an ever widening gap between CEO and workers salaries and the removal of government oversight or regulations that prevent all-out corruption and greed).  Rachel Maddow, dynamic award-winning host of MSNBC's "The Rachel Maddow Show," has written a brand new book titled "BLOWOUT" that ties "Big Oil" to some of the big problems in our modern day economy (I bought it in audio form and am blown away by the details that took us as a nation into corruption and greed).  

    Bear in mind, O:  There is no "Trump budget" in place as of today---there has been no Trump or GOP budget at all the past three years.  This means that the economic conditions we are experiencing are actually due to the wise Great Recession REVERSING economic policies put into place by President Barack Obama, whose last Fiscal Year budget should have and would have ordinarily expired nine months into Trump's first year in our White House---but which has been extended, then re-extended, and re-extended with what are called CONTINUING RESOLUTIONS---a vote to prevent any GOP-caused government shutdowns that wreak total havoc on our economy, costing many millions of taxpayer dollars that drive us ever further into national debt.  The only Trump budget that was submitted to Congress was in 2017---and that bill DIED IN THE SENATE because Trump's handlers tried to REMOVE VETERANS' IU RATING, the Individual Unemployability rating that gives all war veterans access to and use of VA BENEFITS.  We veterans lobbied like crazy to stop this 2017 proposal from passing, because it would have ended war hero military veterans over the age of 65 from having their VA INCOME, requiring that anyone experiencing service-incurred disability who was older than 65 rely solely upon SOCIAL SECURITY for their monthly incomes!  Many of these wounded warriors are in their frail 70s, 80s, and 90s and would not have enough to live on if not for those VA incomes.  TRUMP CANNOT TAKE CREDIT FOR A GOOD ECONOMY! 

    • Login to reply the answers
  • Athena
    Lv 7
    2 months ago

    Wow, you really ARE grasping at straws, aren't you?

    • Login to reply the answers
  • Anonymous
    2 months ago

    Well, from 1953 until Reagan's Presidency the last 7 recessions in the US occurred under a Republican President, and from Reagan til now the last three also occurred under a Republican. Republican Presidents and recessions are par for the course. Trump could make it 11 in a row.

    https://en.wikipedia.org/wiki/List_of_recessions_i...

    • Login to reply the answers
  • 2 months ago

    The eventual downfall possibly, maybe in a decade or a generation from now. Because he was the first President to let our national debt get out of control.

    • Login to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • 2 months ago

    I don't blame Reagan.  I blame Alan Greenspan.

    • Michele K
      Lv 4
      2 months agoReport

      Reagan could have fired him. Reagan needs to take some blame as well.

    • Login to reply the answers
  • 2 months ago

    "Many"? I don't think so. Reagan saved the economy in much the same way Trump is now.

    • Michele K
      Lv 4
      2 months agoReport

      Trump never saved the US economy. He was lucky that the good economic  boom already started under Obama.

    • Login to reply the answers
  • Because Gump supporters cant use facts..and really want to distract from whats currently happening

    • Login to reply the answers
  • Yavan
    Lv 7
    2 months ago

    Maybe that's the wrong argument to make. 

    I would rather say that Reagan's policy drifted our culture towards a worship of the economy.

    And because the neoliberals won, they got us to discuss everything in terms of ''how does it affect the economy?''

    The religion of mathematical economists and their pristine models about nothing has become mainstream.

    And precisely where conservatism lost its way.

    Conservatism aims to preserve certain institutions in society; fearing too sudden a change is rarely a good idea and that institutions are there for a reason. 

    With the worship of the economy, they became nihilistic; nothing has a value. It's all about price.

    • Login to reply the answers
  • Jeff D
    Lv 7
    2 months ago

    No one says that.

    • Login to reply the answers
  • Mike
    Lv 7
    2 months ago

    They think  everything was  dandy  under Carter  ,It was was terrible  under Carter

    • Michele K
      Lv 4
      2 months agoReport

      not everything and Reagans years were not that golden either.

    • Login to reply the answers
Still have questions? Get your answers by asking now.