How does Reagonomics compare to Obamanomics?
that during the first 5 quarters of this so called recovery, real per capita personal income actually fell.
One can compare this to what happened after another deep recession, that of 1981-82 ended.
In , real per capita disposable income developed this way including and excluding transfer payments (Social security, unemployment benefits, welfare etc.) from the government:
Including transfer payments: -0.7%
Excluding transfer payments: -1.4%
By contrast, when the 1981-82 recession ended in Q4 1982, we :
Including transfer payments: +6.3%
Excluding transfer payments: +6.0%
This difference illustrates just how failed Obama's government expansion strategy has been compared to Reagan's marginal tax rate reduction strategy.
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