Interest rates were already high when Reagan took office.....Under Carter we had high inflation and high interest rates, and little economic growth. It is called stagflation!
Tight money policies were necessary to kill the runaway inflation caused by Carter...........Reagan reversed the shocking rise in inflation during the Carter years. Inflation from 1980 was reduced by more than half by 1982, to 6.2%. It was cut in half again for 1983, to 3.2%, never to be heard from again until recently.
The high interest rates didn't hurt Reagan's election.....most know that it is runaway inflation destroys the working and middle class.
Oh, yeah!
Miss those 16% interest car payments and 12% mortages rates . . .
But at least we won the Battle of Granada!
What a farce . . .
Ronnie was a puppet with Nancy's hand up his ass. I saw him getting off the airplane in Scottsdale after his return from cashing $2M checks in Japan for 5 minute speeches -- it took three security people to help him down the stairs from the aircraft and he obviously had no clue where he was!
Originally Posted by MooneyFlyer