Before providing Facts of Crises and eventual Recoveries, please, take just a moment to read just a bit of the background to get some perspective.
Many don’t realize that two years after Reagan’s inauguration, his popularity was declining quickly. The economy was not improving fast enough for anyone’s satisfaction. Most people failed to understand that Economic problems are built over time. They don’t just pop into being overnight. Not, can even the best, absolutely perfect policy bear fruit overnight. Positive economic turnarounds grow gradually. That is a simple fact of economies. So, two years into his administration, there had yet to be seen any of the substantial economic improvement that the country was counting on.
Calls for changing tactics and policy were everywhere. He was being considered a failure and was faced with non stop pressure to change course! Instead of doing that which was politically expedient, Reagan did what he knew was right! Without Reagan’s unwavering dedication to pursuing his policies and steadfastly implementing the economic principles that had become so unpopular, the Reagan miracle would not have occurred. The political price he was paying was enormous, but he stuck to his guns. In the end, both he and the country reaped the rewards. Read the rest of this entry →