Existing comment:
"Governments don't produce economic growth; people do."
-- Ronald Reagan
President Reagan's Economic Scorecard 1981 to 1989:
* Inflation fell from 12.4% to 4.6%
* Unemployment fell from 7.4% to 5.2%
* Federal income -- tax the top individual taxpayer rate was cut by 50% to 28%
* Mortgage interest rates dropped from 15.4% to 10.3%
* Tax receipts -- total tax receipts doubled from $517 billion to $1,030 billion; income tax receipts rose from $347 billion to $549 billion
* Stock market -- the Dow Jones Industrial Average rose from about 970 to 2,235
* Expansion -- the economy grew for 96 consecutive months |