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Originally Posted by direstraits:

How cute, one our resident lefties got a quote from equally leftie NPR on the Reagan economy. I'm certain my fellow conservatives and libertarians may find it cute.  However, remember leaving a leftie alone with economics may be as dangerous as giving a small child a loaded weapon or matches to play with.

 

First,  the definition of recession:

 

"A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters. A recession is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market."

Read more: http://www.investorwords.com/4...n.html#ixzz3BPeXih46

 

Got that, two consecutive quarterly declines in the GDP.

 

Now, the quarterly GDP averages for 1981 to 1982

 

gdp 1981 1982

 

Please observe, there was ONE NEGATIVE QUARTER OF DECLINE.   Therefore, there was no recession and definitely no depression,  In fact, look at the other quarters, Obama hasn't had any as good as those.  Yes, there was a temporary rise in unemployment and a quarterly decline.  An economy takes time to adjust.  Better a few months of bad news, than years and years of bad news as one experiences in a left wing economy.

______________________

you better tell reagan there wasn't a recession.. he believed there was.

 

The 1982 recession during the Reagan Administration resulted in high interest rates, homelessness, and unemployment. "We are really in trouble," Reagan confided to his diary.

 

Last edited by Crash.Override

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