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How the Next President Should Fix the Economy
Thursday, May 15th, 2008 @ 11:04 pm
How the Next President Should Fix the Economy article by JUSTIN FOX give example of pass presidents and their involvement, management and decisions made in the economy at the time and how can affect us in the future.
“ The bigger issue for voters to wrestle with, though, is not what the economy can do to the presidential race but what the next President can do to the economy. Usually it’s not so much. But every once in a while, like when Franklin Delano Roosevelt was elected in 1932 and Reagan in 1980, the effect can be dramatic.
Reagan’s policies, together with some luck and the inflation-killing zeal of Federal Reserve Chairman Paul Volcker, helped the U.S. economy break out of its 1970s malaise into a new era of flexibility, innovation and growth. And this era didn’t end when Reagan left office in 1989. Subsequent Presidents, even Democrat Bill Clinton, followed more or less in Reagan’s footsteps.
Economic eras don’t last forever, though, and there are signs that the current slowdown is a harbinger of something bigger: an end to America’s 25-year love affair with tax cuts and deregulation. A lot of the cracks that have emerged during that time, because of global economic shifts or our own neglect, have become impossible to ignore — stagnant incomes, a federal budget gone way out of balance, soaring energy prices, a once-in-a-lifetime housing crash and growing financial risks in retirement and from health care. ”
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