Comparing the Reagan and Obama recoveries
Impact of president's response to the recession
- Duration 5:40
- Date Apr 24, 2012
Impact of president's response to the recession
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Today more men and women who go to work than ever before countries.
With interest rates that about half the record highs of 1980.
Nearly 2000 families today will buy a new home.
More than at any time.
The best for you.
Well that was president Reagan's morning in America -- made just before his 1984 reelection effort.
As the bad economy started to dramatically turn around President Reagan let people know.
President Obama has invoked Ronald Reagan repeatedly most recently to sell his so called Buffett rule that taxing the rich more.
But should the president be careful about inviting comparisons.
Let's take a look at the numbers.
Under President Reagan America's total GDP average or the rate of economic growth for the country.
It was it nearly 8%.
Compare that to last year's average of just one point 6%.
Under President Obama.
Things not looking brighter on the job front either an average of more than three million jobs were created under President Reagan back in 1983.
As opposed to just nearly two million.
Under President Obama and that of course is at a time which the population is considerably larger.
Under President Obama joining me now chairman of the Reagan group Michael Reagan.
You know a lot of folks have been talking about Ronald Reagan in this campaign and the president himself is invoked in many times.
The numbers really tell the story that we it seems clear and your dad we were facing an economic recovery when he was running for reelection.
There is a question mark however about whether we are right now.
There's a big question mark whether we are right now most people out here in America.
Outside the beltway feel that we are not moving in fact forward.
I talk to people every day as you do -- And there's nobody feeling good about America right now back in 198394.
-- that reelection campaign more in America it was mourning in America.
People are feeling good again but what is even better about it was what -- Reagan.
You know when he spoke people listened people trusted.
Ronald Reagan to do the right thing they don't trust.
Barack Obama do in -- -- the right things divisive well Reagan was never in fact divisive and it probably shows best with.
You know good friend to talk radio Alec Baldwin always stepping all over Alec and Alec of one time with the at the -- Any federation as you tell your family how I -- your father did what.
-- -- disagree with everything ever stood for.
He says yes but I've come to realize over the years your father had a good soul.
And what this country is missing today.
Is that good soul and he was absolutely correct in what he said Ron Reagan had a good soul didn't talk down to people talked to people.
You know if he was called the great communicators you know and in -- -- was.
You know that the expectations.
For his ability to lift this up and to inspire us were very high you know hope and change I think.
Democrats and independents and even some Republicans were hoping that that was true -- How important is that ability.
To funding warning in America again to inspiring the American people to get out there and get the economy going again.
Don't really need to not be inspired by the reverend -- the world but be inspired by the Ronald -- the world.
Who didn't speak Dell who didn't push people down to lift another group of people -- he did divide.
America at all look at Tip O'Neill for example Tip O'Neill who ultimately signs -- -- the Reagan tax cuts of 1983.
Or -- one.
And at what age to Tip O'Neill -- -- and why in the world did you sign on what the the president save you when you went to the White House.
And Tip O'Neill Shipley looked at -- -- you know went up there never talked about taxes always talked about with the goodness and greatness of America.
And her people before I knew what I was supporting -- Reagan when he was trying to do how can you be against a man like that.
And that was the person while regular was about this is not the person Barack Obama is about he is about -- to try and conquer is -- bringing people together.
He he had a very different policies from your dad's of course and -- and and Michael Barone has a piece comparing these numbers.
He ends that piece by reading the numbers make it clear -- numbers that we Begin your segment with the Reagan tax cuts led to vibrant economic growth.
The Obama's spending splurge.
Do you do you see -- how big a difference do you see when it came to approach in fixing the economy between these two presidents.
Actually right to be Ronald Reagan as John Kennedy realized tobacco 1960s.
Cutting -- is giving people more of what vapor and allow them to make decisions how it's going to be spent.
Actually grew the economy back in the 1960s.
And again during the 1980s.
It is a proven fact it can be -- -- you know economics has never -- were reaganomics work.
Can Vietnam which for whatever has always worked for this country and it doesn't work when you're trying to in fact push other people down.
And and try to say that the rich are in fact the problem with America was my father's -- in one speech.
You know with with the fat -- -- standing next to offend me and there's one group of people play the fat and got fat.
I -- in the food off the plate -- the thin man.
Just not true.
And we'll leave it that Michael Reagan.
Thank you -- it's seeing --