An economic generation is about to end. We can look back at the 1980’s and 90’s with a degree of certainly. They definitely were ”the
good old days”.
Beginning in 1984, newly elected President, Ronald Reagan, began implementing his
conservative,Kenseyan brand of economics, labeled ” Reaganomics”, as an immediate response
to the morass that was the U.S. economy,as bungled by Jimmy Carter.
Thanks to the Carter administration’s incompetent provincial leadership, the
economy was experiencing a high rate of inflation, a high level of unemployment, and very little
growth A situation known as Stagflation.
Interest rates in the upper teens, were a stranglehold on any potential growth.
Our bungled mission in the desert of Iran was a National embarassment.
In general the U S economy and national psyche were at historic lows.
In a multipronged initiative, Reagan’s team worked to reduce taxes and restrict Government
spending. This had the effect of forcing more spending into the private sector and encouraged
the return of the entrepreneurial spirit.
To further nurture this renaissance spirit, he pushed to reduced government regulations, helping
to make the business climate more user friendly than it had been under the Carter administration.