Why is Reagan seen as the best president in the USA when he literally destroyed the American economy with trickle down system and was strongly against worker unions?
08.06.2025 17:23
As President Reagan observed with a wry smile, “I could tell our economic program was working when they stopped calling it Reaganomics.” But what really pleased him most about the Reagan Recovery was not the vindication or all the impressive statistics. To him, the success of Reaganomics was what it brought to the American people.
The Reagan administration slashed the priime interest rate by more than half, from an unprecedented 21.5% in January 1981 to 10% in August 1988. This achievement stemmed from the administration’s shift in monetary policy aimed at controlling inflation and stimulating economic growth.
The Administration's focus on fiscal restraint and reducing government spending, combined with tax reforms, deregulation, and the resulting economic growth all worked together to bring down the inflation rate. This decline in inflation provided a more stable economic environment, which contributed to increased business confidence, and investment.
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INFLATION DROPPED FROM 13.5% IN 1980 TO 4.1% BY 1988
So impressive was the Reagan Recovery that at the G7 Economic Summit in 1983, when it was obvious the President’s plan was working, the West German Chancellor asked him to “tell us about the American miracle." That was quite a turnaround from two years earlier, when President Reagan outlined his economic recovery plan to an unconvinced group of world leaders.
Taming the lion called government spending was another key component of the plan – the “third leg of the stool.” Here, too, President Reagan did what he said he would do. During his Administration, growth in government spending plummeted from 10% in 1982, to just over 1% in 1987. With inflation factored in, Federal spending actually went down in 1987 – the first time that had happened in well over a decade.
Reagan did support supply side economic policies that saved both the American economy and middle class from the disastrous economic policies of the miserable failure Jimmy Carter and the Democratic Party. Over eight years the Reagan Administration achieved the following:
Reagan never supported anything accurately referred to as “trickle down economics.” That is because no such theory exists. The following should clarify:
Economic expansion, tax cuts, and job growth were primairy drivers of increasing the net worth of families earning between $20,000 and $50,000. Also contributing to this growth was asset appreciation and inflation moderation during this time period.
Tax cuts were only one “leg of the stool.” The second, jobs, was equally strong. Not only were there millions of new jobs, but the benefits of job creation were not limited to one segment of society. Employment of African-Americans rose by more than 25% between 1982 and 1988, and more than half of the new jobs created went to women.
Reagan didn’t destroy the American economy with “trickle down” system. He was not strongly against worker unions.
Now, however, they all wanted to know how he did it, so he told them: reducing tax rates restored the incentive to produce and create jobs, and getting government out of the way allowed people to be entrepreneurs. From there, the free marketplace operated as it was supposed to.
Given actual rates of inflation, through 1987, the Reagan tax cuts saved the median-income two-earner American family of four close to $9,000 in taxes from what it would have owed in 1980.
During the Reagan administration, there was a significant decrease in inflation, with the inflation rate dropping from 13.5% in 1980 to 4.1% by 1988. This decline in inflation was a crucial accomplishment for the administration and was attributed to various factors and policy decisions.
As President Reagan's policies were implemented, economic growth began to take off. This favorable economic environment allowed businesses to thrive and expand, thus creating more jobs and lowering unemployment.
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As to the charge that he opposed worker unions, that is also demonstrably false. That is a pernicious lie that stems from Reagan’s justified termination of the employment of members of the air traffic controllers union , also known as PATCO. This union went on an illegal strike in violation of a contract they had signed that stated they would NOT go on strike. They broke their contract, and put the public safety at risk. Reagan gave them 48 hours to return to work, or face termination. Many of them found out Reagan was not bluffing when he fired their worthless asses.
THE PRIME INTEREST RATE WAS REDUCED TO 10% BY AUGUST, 1988
As Reagan's economic policies began taking off this ultimately led a substantial rise in Gross National Product (GNP), reflecting increased productivity, business expansion, and investment.
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REAL GROSS NATIONAL PRODUCT ROSE 26%
THE FIRST HAND RESULTS OF THE REAGAN RECOVERY
20 MILLION NEW JOBS WERE CREATED
The combination of tax cuts and deregulation was a catalyst for economic growth and job creation. Several industries experienced expansion, including finance, technology, and manufacturing. During this expansion, business had more capital and flexibility, which led to job creation.
Only an idiot, or a partisan hack would look at statistics such as these and conclude that Reagan had harmed the economy, or the middle class. The truth is just the opposite, he saved them both.
Millions had good jobs and were able to keep more of the money for which they worked so hard. Families could reliably plan a budget and pay their bills. The seemingly insatiable Federal government was on a ‘much-needed diet. And businesses and individual entrepreneurs were no longer hassled by their government, or paralyzed by burdensome and unnecessary regulations every time they wanted to expand.
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Reagan was and remains the greatest American President and world leader of the modern era. None of the revisionist nonsense be spread now will change that irrefutable fact.
NET WORTH OF FAMILIES EARNING BETWEEN $20,000 AND $50,000 ANNUALLY GREW BY 27%
Such a ridiculous question, but lies must be confronted.
UNEMPLOYMENT FELL FROM 7.6% TO 5.5%
In a phrase, the American dream had been restored.