Reaganomics was not a success!
Look at median family income. The basic story of postwar America is one of big gains in the first generation, near-stagnation in the second and after, with fluctuation due to the business cycle. And Reagan did not break that pattern:
These periods don’t match up neatly with presidential terms. Still, if Reaganomics had been such a spectacular success, you would have expected the results by 1990 to have been families doing better than in the horrible 1970s; actually, not. The only clear things we see here are that the Clinton era was pretty good, while the Bush era was lousy even before the crisis.
Thursday, February 21, 2013
St, Reagan's grand fail
In the context of a response to column by conservative commentator Ramesh Ponnouru, Paul Krugman @ NYTs makes a compelling case with...uh...data: