25 Feb
2011
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Can Obama Pull A Reagan?

Here’s a short but sweet blog for a Friday night…Obama wants to emulate Ronald Reagan’s success in the 1984 elections. He’s hoping to ride a new economic expansion to a second term. There are many problems with this “hope”.

First of all, we have a pending, but huge inflation problem on the horizon – Reagan had rapidly declining inflation. Second, taxes were dramatically cut in 1982, whereas taxes are increasing now to Jimmy Carter-era levels. Third, we have near-record high oil prices. Fourth, we have high, long-term youth unemployment that is increasing, not decreasing like in 1984. Finally, for the first time since the 1930’s, private-sector wages are below the government’s.

Good luck winning next November, Mr. President. Or, as they say in Wayne’s World, NOT!

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