Reagan always claimed he inherited a recession when entering office. If Reagan can say it, so can President Obama. There was a recession at work on the USA economy in 1980. "The Kos" (click here) makes the point that unemployment is directly related to a Presidential Approval rating.
To be noted, even though Reagan was instituting 'tax reform,' the unemployment rate at his inauguration was 7.5% and in November 1982 it was an ACTUAL double digit of 10.8%.
The truth about Reagan's policies is that it catered to the wealthy and victimized the Middle Class and Poor. That is what Republican economic priorities do. They aren't really policies. They are priorities. That is very different than policy that will work for the majority of Americans.
...The labor market, (click title to entry - thank you) which received its second jolt in as many years, was experiencing precipitous declines by the final quarter of 1981. The number of unemployed reached 9.6 million— 8.8 percent of the work force—by the end of the year. There were also large increases in the number of persons reporting discouragement over job prospects and the number still employed but reporting reduced workweeks.The entry at the title also explores a stark reality. The recession of 1990, ten years later. The return of the Republicans in the number of years in power that do nothing but cater to wealth, followed by a Democratic President with an actual plan to increase the GDP of the USA and return the Middle Class to work. Why don't the American people see this pattern and 'resolve' to stop it.
Although by the end of 1981 total employment was near its year ago level, the pattern during the year was one of growth through spring, stagnation in the summer, and pronounced cutbacks at the end of the year. The percentage of the population employed was at a 4-year low by December....
See, it is about 'residual.' Both economic and legislative residual. Rather than 'stabilizing' the government and the economy, the American people continually put "The Party of Wealth" back in office as soon as the Democrats have rehabilitated the Middle Class. It's hideous to realize the American people never learn their lessons about Republicans.
Reagan's running mate in 1980 was Geoge H. W. Bush. Think about this mess, will you all please?
