Stuart Varney, the Fox Business economic host, started out his discussion based around the presentation of Ronald Reagan’s presidency. In his initial discussion layout, Varney identified that during Reagan’s tax cut policy ranging from January 1983 until Reagan’s exit in 1989 the U.S economy grew at an annual rate of 4.8%.
When beginning his discussion with David Stockman, Varney asked about the various disagreements on what economic growth can experienced from tax cuts. Stockman directed on the 4.8% quote, “That’s selective data. We had a massive and deep recession in 1981 and 1982. The Federal Reserve had to slam on the breaks because of double digit inflation because of President Jimmy Carter.”
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