{UAH} Worst US presidents for the economy Republicans

The five worst presidents for the economy are three Republicans and one Democrat:

• Bush Senior
• Dwight Eisenhower
• Richard Nixon
• Harry Truman

Can we reach any general conclusions about why Republicans are so bad for the economy? I am not sure why things were so slow under Eisenhower but Nixon presided over a period of stagflation – high inflation and slow growth – and tried unsuccessfully to cure it with government controls of wages and prices.

And Bush Senior was in the unenviable position of cleaning up a mess left by his predecessor, Ronald Reagan, who espoused an economic philosophy of tax cuts and increased defense spending that Bush Senior dubbed Voodoo Economics when he was running for the presidency against Reagan in 1980.

After a decade of junk-bond fueled takeovers and financial deregulation, Bush Senior took office just as the bill was coming due for all the short-term debt fueled money-making that created the illusion of prosperity in the 1980s.

Bush Senior presided over a $230 billion bailout of the Savings & Loan industry – after a collapse fueled by deregulation — and a budget balancing process that set the stage for Bill Clinton's successful two terms.

--

*A positive mind is a courageous mind, without doubts and fears, using the experience and wisdom to give the best of him/herself.

 

 We must dare invent the future!
The only way of limiting the usurpation of power by
 individuals, the military or otherwise, is to put the people in charge  - Capt. Thomas. Sankara {RIP} '1949-1987

 *"Those who make peaceful revolution impossible will make violent

revolution inevitable"**…  *J.F Kennedy

 

--
Disclaimer:Everyone posting to this Forum bears the sole responsibility for any legal consequences of his or her postings, and hence statements and facts must be presented responsibly. Your continued membership signifies that you agree to this disclaimer and pledge to abide by our Rules and Guidelines.To unsubscribe from this group, send email to: ugandans-at-heart+unsubscribe@googlegroups.com