Unemployment: What Would Reagan Do?

The Wall Street Journal ^ | 08-10-10 | HENRY OLSEN

[GOP_Lady]

No other recession in the last 60 years saw such rapid job destruction.

Friday's grim labor report is the latest confirmation that our economy is not recovering. A loss of 131,000 jobs and a stagnant 9.5% unemployment rate are bad enough. But a deeper look—at the little-known civilian employment-population ratio—shows how hard it's going to be to pull out of our crisis, and why the Obama administration's policies are unlikely to do the job.

In contrast to the better-known unemployment rate, which measures the percentage of working-age Americans who are actively seeking jobs but do not have one, the civilian employment-population ratio measures the percentage of working-age Americans who have a job, whether they are seeking one or not.

[GOP_Lady]

[GOP_Lady]

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[pnh102]

He would TEAR DOWN THIS WALL!!!!

I know, I couldn't resist.

[GOP_Lady]

Well, that is an excellent line! ;-)

[TSgt]

He would cut taxes and then nuke North Korea and Iran but that’s just in the first 24 hours...

[mamelukesabre]

Someone once said that we should never let a crisis go to waste. In this historic employment crisis, we have no time to waste. Rather than tear down Reaganism, our leaders in Washington should heed its lessons and unleash the private sector that alone can pull us out of our doldrums.
~~~~~~~~~~~

We’re beyond that. Our debt is such that there is no longer any escape. The black hole is winning.

[mouser]

A loss of 131,000 jobs and a stagnant 9.5% unemployment rate are bad enough

How dose the country keep loosing more and more jobs but the unemployment stays the same 9.5%

In reality the unemployment numbers should be so much higher.

[Ticonderoga34]

We know what Reagan would do.

In Reagan’s first two years, unemployment was high.

He cut taxes and let the American economy recover on its own. It worked out well, if I remember right.

[Snake65]

My parents climbed from lower-middle and struggling very hard to upper middle with two kids in college on Reagan's watch.

We're very grateful for that. I'm proud to say I cast my first presidential vote for him.

[GOP_Lady]

My very first time voting for President, too.

What a heck of a way to start out!

[Snake65]

Reagan In His Own Hand is a great read. Also A Different Drummer, Michael Deaver's memoir of his years with Ronald Magnus.

[GOP_Lady]

I’ve read the first.

I’ve always wanted to read the latter, but for some reason never did. I’ll check it out.

Thanks much! :-)