Sunday, 29 July 2012

The "Worst President Ever"

By Alan Caruba

You have to know how poorly Barack Hussein Obama has performed in office when the phrase the "worst President ever” has already become a cliché.

Obama’s first term is frequently compared to the devastation of Jimmy Carter’s first and only term. It left Carter a rejected, embittered man, frequently critical of those who succeeded him.

What did President Reagan do to create an economic boom in the wake of Carter’s sorry record?

Peter Ferrara, the Director of Entitlement and Budget Policy for The Heartland Institute, who served in the Reagan White House Office of Policy Development, writing in 2008 cited Reagan’s (1) tax cuts to restore incentives for economic growth, (2) spending reductions, including a $31 billion cut in spending in 1981, close to 5% of the federal budget, (3) an anti-inflation monetary policy restraining money supply growth, (4) deregulation that by 2008 had saved consumers an estimated $100 billion in lower prices, and (5) free trade in the form of worldwide agreements to reduce tariff taxes.

Citing tax cuts, Ferrara noted that “Reagan was not the first or last to adopt sweeping tax cuts to boost the economy. It has happened four, perhaps five, times in the last century, with virtually the same results every time.”
 
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