Percy writes:
quote:
There was also the gas shortage with incredible lines at the pumps
I think you're confusing Carter for Nixon. There was a gas shortage in 1979 due to the Iranian Revolution and the Iran/Iraq war which brought the oil production of both countries to a halt, but that was nothing compared to the shortage under Nixon. OPEC instituted an embargo on the US.
And prices stayed high.
They collapsed after the 79 oil shock.
quote:
plus inflation was up way above 10% and mortgage interest rates above 15%.
Yes, due to the economic collapse during the Nixon administration, or have you forgotten about that? Rates were going down and GDP was recovering at the end of the Carter administration...until Reagan came in and cut taxes on the top end.
And yet, despite all that, the economy fared better in the 70s than in the 80s. Carter's economy was one of the most robust we had seen. From the end of WWII to Obama, there have been just as many Republican administrations as Democratic administrations...and the economy has always done better under the Democrats.
Job creation, for example: Of the 12 presidents, the top six are the Democrats. Reagan's the best Republican, but he boosted his numbers by expanding the public sector. Now, in and of itself, that's not a problem, but let's remember that the Republicans think that public sector jobs are what's killing the country.
[Bureau of Labor Statistics: Job Growth per Year: Carter 3.1%, Reagan 2.1%
Private-sector jobs/year: Carter 2.3 million, Reagan 1.8 million]
Carter was one of the best presidents we've ever had. If the Reagan campaign hadn't literally committed treason and convinced Iran to not release the hostages until after the election, there was a good chance he would have won and we wouldn't have the disaster that we see now.
Rrhain
Thank you for your submission to Science. Your paper was reviewed by a jury of seventh graders so that they could look for balance and to allow them to make up their own minds. We are sorry to say that they found your paper "bogus," specifically describing the section on the laboratory work "boring." We regret that we will be unable to publish your work at this time.
Minds are like parachutes. Just because you've lost yours doesn't mean you can use mine.