The popular wisdom of today is thew great communicator President Reagan ended the great malaise that was happening in the United States, sometimes called stagflation.
We credit the lowering of the tax rate ( funny how my taxes went up) with creating jobs. I seem to recall that the defense budget went up creating civil jobs that created more jobs, but of course the history books say that the lowering the tax rate created jobs.
During Reagan's presidency a tight money policy was put in place, this being credited with lowering inflation. I seem to recall a little war was going between Iraq and Iran lowering the cost of oil.
Aren't we an oil based economy? Of Cause a tight money policy is the reason inflation went down.
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