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In reply to the discussion: This President is why America today is run by warmongers and traitors! [View all]George II
(67,782 posts)....his smoke and mirrors economic policies made him look good, but destroyed the economy of the US for decades:
He solved the "inflation" problem by removing petroleum prices and credit/mortgage rates from the calculation
He solved the unemployment problem by reducing those on unemployment benefits from 52 weeks to 26 weeks, instantly reducing the "unemployment rate" by about 50%
He allowed the beginning of outsourcing to other countries
He "created" jobs by allowing high paying skilled jobs to go overseas, being replaced by almost twice as many jobs at less than half the wages - more jobs, less net income for Americans
He "reduced" taxes by lowering the tax rates but at the same time eliminating a slew of middle class tax deductions, resulting in a net tax increase for millions at a lower tax rate
I can go on and on but you all get the point.
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