Reaganomics Will Create Jobs Again

Yet another negative employment report was released Friday – 36,000 jobs lost in February. President Obama appeared on TV to claim, preposterously:

…this was better than expected…and shows the measures we’re taking to turn our economy around are having some impact.

Not to be out done, Senate Majority Leader Harry Reid took to the Senate floor and outperformed The President:

Today is a big day in America. Only 36,000 people lost their jobs today, which is really good.

As the recession drags on Americans find themselves resorting to National Payday schemes.

Obama and Reid have apparently forgotten that there is a philosophy and set of policies with a proven tack record of job creation. The historical data is here for Obama, Reid and everyone else to see.

These charts compare the two worst recessions since the 1930s, and the results of the two, directly opposite responses from Washington.

ObamaNomics Vs Reaganomics

Thirteen months ago President Obama inherited a deep recession.  His response has been to:

  • Expand the bailout program begun under the Bush administration;
  • Enshrine as explicit government policy the theory that some companies are deemed too-big-to-fail and will always be rescued from the consequences of their own negligence, especially if their workforce is unionized;
  • Enact the stimulus, now nearly $900 Billion in extra borrowing and spending, hyped with the promise that it would, in Obama’s words “immediately jumpstart job creation;”
  • Subsidize blue-sky energy schemes that are too expensive and unreliable to survive in the competitive marketplace;
  • Threaten employers with tax increases, hyper-regulation, new health care mandates, and an artificial energy shortage imposed by government.

Like President Obama, President Reagan inherited a deep recession as he took office in 1981. By some measures it was worse than the current downturn.  Reagan’s economic program, based on his commitment to liberty, was the opposite of Obama’s:

  • Reduce regulation and government intervention in the economy;
  • Cut taxes to leave capital in the hands of those who had earned it and were best equipped to invest in job creating enterprises;
  • Release the creative and productive energies of The People from the yoke of imperial government.

The upper chart shows the job market is still deteriorating, after 27 months of Bush/Obama policies.

The results, in the lower chart, speak for themselves.  Reagan’s policies turned the job market around after 15 months of losses. Employment grew continuousy for 90 months, a total of 21 million new jobs, for a 24% increase in the number of Americans with jobs.

15 Comments so far

  1. Thousand Flowers Blooming on March 5th, 2010

    You got nothing if the best you can do is channel the ghost of Ronald Reagan, worst President ever. What about the debt under Reagan? like a mushroom cloud!

  2. Alex Nortalin on March 5th, 2010

    Sure, go back to trickle down economics. Tax cuts for the rich and wait for the money to trickle down to the middle class. Only problem is it never happens. It trickles the other way.

    Yes some jobs were created but the pay was lousy and Reagan set up this evil health insurance system that kills people.

  3. Sarah Livingston on March 5th, 2010

    Thousand and Alex just dont get it.

    We can only wish this unqualified President from corrupt Chicago politics could turn this economy around the way Ronald Reagan did.

    I own a small business and I had to lay off two of my three employees. All we get from Obama and the feds is constantly hammering us about health care! I wish these guys would just walk away from health care. Just leave it alone, even though its screwed up.

    These guys scare me the way they talk about health insurance. They dont have a clue!

  4. Drew on March 5th, 2010

    Sarah –

    “Thousand and Alex just dont get it.”

    Let me rephrase that: they have no clue (they probably have no job, at least not one worth a damn) and they have absolutely nothing worthwhile to say.

    They are the quintessential trolls.

    BTW – what is the nature of your business?

  5. Thousand Flowers Blooming on March 6th, 2010

    Website developer. highly paid.

    But my job isn’t the issue. And personal insults don’t make Reagan’s policies fair.

    Reagan was great for the rich, and screw everyone else. Those are facts.

  6. […] Read the original here: Reaganomics Will Create Jobs Again | Liberty Works | […]

  7. Sarah Livingston on March 6th, 2010

    Hi Drew,

    I know they are trolls but I know plenty of people who think just like them. Thats the problem. too many people are too gullible and believe the lies about Reagan and Obama’s lies about himself.

    I guess Obama didn’t really lie about himself. He never said he had experience as an manager. These saps voted for him to be President of The United States of America even though he didn’t have enough experience to run a hot dog cart! I have many years more management experience than Obama!

    I’m in the wholesale florist business in Chicago.

  8. Drew on March 6th, 2010

    The intersection of website developer and highly paid is the null set.

    And having read (too many) of your posts, and having tried to understand their “logic” (speaking of insults) you must be one of the website developer scrubs.

  9. Drew on March 6th, 2010

    Sarah –

    Is that business holding up, or is it too discretionary?

  10. Sarah Livingston on March 6th, 2010

    Drew
    Business sucks. Had to lay off 2 out of 3 people. Moved it back where I started, in the garage.

    Scared, worried, disgusted, feeling like a failure, tired.

  11. Jeff Emanuel on March 7th, 2010

    The Democrats’ job killing Health Care horror must be stopped now. Why? Because I simply don’t believe the Republicans, even if they win back the majority, will ever have the cajones or legal standing to fully repeal it. We’ll be stuck with it forever. It will drag down the economy push up unemployment for a century.

  12. Drew on March 7th, 2010

    Sarah –

    We don’t know each other, but please tell me you won’t give up. Because we both live in Chicagoland, we know Obama and his band of crooks, and who they are. (See, for example, Mr BoomerJeff’s next post.)

    They will be thrown out as the job killing trash they are. Hang in there.

  13. Sarah Livingston on March 8th, 2010

    I guess I can’t give up. I have to eat.

    Even if The Dems are voted out I don’t know what will bring back the economy.

    Everywhere I look small business people are hurting. We have to pay a tax for unemployment benefits for our employees but we can’t get unemployment benefits for ourselves if we are forced to close our businesses.

    We employers pay the tax but the politicians make themselves look generous with big dramatic votes to pay unemployment benefits. Whats with that? Why do they even have to vote at all when they already collected the tax that they say is dedicated to unemployment benefits?

    And people like thousand flowers lap it all up. Its just disgusting. I don’t know whose worse.

  14. politicaljules on March 8th, 2010

    Liar Democrats keep on lying. Time to shut your pie hole.

    Under reagan, I had a job $78K and countless offers. They did not interview me, I interviewed them. I was given thousands in bonus money to come work for them.

    Under obama, I am laid off & our rent house is being forclosed on. We dont own it, but will be kicked out because we dont own it. The deadbeat owners who dont pay the mortgage but took our rent, get to live here rent free.

    True story. Now under obamacare our insurance premiums which my husband is the carrier will go up 40%

    My family’s ( disabled dtr) Health Care insurance premium per yr is $5200. Under obamacare our premium will increase $2080=$7360.

    Once the premiums necessarily skyrocket it will be more.

    Her monthly medical supplies will go from $700/mo to $980/mo just because the taxes.

    To all of you who voted for him and continue to support him, do you think our family can afford that? We cannot.

    To those of you who do not support BO, impeach him now.

    (btw I posted this on BO’s utube page and it was mysteriously deleted.)

  15. deek on March 8th, 2010

    Obama doesn’t want to create jobs .. get it?? He only wants to create government jobs. Creating jobs isn’t Rocket Science .. you simply cut taxes on everyone and they reinvest into the economy and big companies stay here and give jobs.

    Obama wants Socialism, but in order for that to happen, everyone must become dependent in some form or another. The ruse of having no money is a selling point for Obamacare and so on.

    http://www.repubx.com