Tax insights and triumphs: Reagan's economic achievements were among the most important

Washington Times ^ | Monday, June 7, 2004 | Bruce Bartlett

[JohnHuang2]

Ronald Reagan's economic achievements were among the most important of his presidency. When he took office in January 1981, the U.S. economy was suffering from many ills, including slow growth, high inflation, rising unemployment and unprecedented interest rates. Economists commonly believed that it would take decades to fix all these problems, if they could be fixed at all, and that the political cost of doing so was impossibly large for a democracy. Yet, well before the end of Reagan's presidency in 1988, he had succeeded in reversing all of the problems he inherited, putting the U.S. economy on the path of sound, noninflationary growth that continues to this day.