Sorry georges but economics? You mean Reaganomics? His 'trickle down economics' have been proven time and again to not work. And he was a fiscal mess as he ran record budget deficits. Economically Reagan was a joke. Any idiot can spend more money then he has and get someone else to pay for it.
Yes, I meant reaganmomics.
Here is more from Wikipedia:
" When Reagan entered office the United States inflation rate stood at 11.83% and unemployment at 7.5%. Reagan implemented policies based on supply-side economics and advocated a laissez-faire philosophy, seeking to stimulate the economy with large, across-the-board tax cuts. Citing the economic theories of Arthur Laffer, Reagan promoted the proposed tax cuts as potentially stimulating the economy enough to expand the tax base, offsetting the revenue loss due to reduced rates of taxation, a theory that entered political discussion as the Laffer curve. Reaganomics was the subject of debate with supporters pointing to improvements in certain key economic indicators as evidence of success, and critics pointing to large increases in federal budget deficits and the national debt. His policy of "peace through strength" (also described as "firm but fair") resulted in a record peacetime defense buildup including a 40% real increase in defense spending between 1981 and 1985.[88]
During Reagan's presidency federal income tax rates were lowered significantly with the signing of the bipartisan Economic Recovery Tax Act of 1981. Real gross domestic product (GDP) growth recovered strongly after the 1982 recession and grew during his eight years in office at an annual rate of 3.4% per year. Unemployment peaked at 10.8% percent in December 1982—higher than any time since the Great Depression then dropped during the rest of Reagan's presidency. Sixteen million new jobs were created, while inflation significantly decreased. The net effect of all Reagan-era tax bills was a 1% decrease in government revenues. Reagan also revised the tax code with the bipartisan Tax Reform Act of 1986.
The policies proposed that economic growth would occur when marginal tax rates were low enough to spur investment, which would then lead to increased economic growth, higher employment and wages. Critics labeled this "trickle-down economics"—the belief that tax policies that benefit the wealthy will create a "trickle-down" effect to the poor. Questions arose of whether Reagan's policies benefited the wealthy more than those living in poverty,and Reagan was seen as indifferent to many poor and minority citizens. FICA payroll tax rates increased to maintain Social Security funding.
In accordance with Reagan's less-government intervention views, the budget and several government programs were cut during his tenure, including that of the EPA. Though he protected entitlement programs, such as Social Security and Medicare, his administration cut outlays for many social programs.
The administration's stance toward the Savings and Loan industry contributed to the Savings and Loan crisis.It is also suggested, by a minority of Reaganomics critics, that the policies partially influenced the stock market crash of 1987, but there is no consensus regarding a single source for the crash. In order to cover newly-spawned federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $700 billion to $3 trillion. Reagan described the new debt as the "greatest disappointment" of his presidency.
He reappointed Paul Volcker as Chairman of the Federal Reserve, and in 1987 appointed monetarist Alan Greenspan to succeed him. Some economists, such as Nobel Prize winners Milton Friedman and Robert A. Mundell, argue that Reagan's tax policies invigorated America's economy and contributed to the economic boom of the 1990s. Other economists, such as Nobel Prize winner Robert Solow, argue that the deficits were a major reason why Reagan's successor, George H. W. Bush, reneged on a campaign promise and raised taxes".
from
http://en.wikipedia.org/wiki/Reagan
Economically, Reagan was far to be a joke because 16 millions of jobs were created during his presidency, the economical growth rate was of 3.4% every year and the inflation decreased.
Well, you can't solve every problem but ignoring the fact that 16 millions of jobs were created and that there was an economical growth rate of 3,4% each year is very ignorant from you.
Please get real.
