It is being pointed out that Reagan's hard first term is now being compared to the tragedy that is unfolding in the present leadership.Here are some reasons why that comparison is Poppycock.
Inflation. The economic recession that Reagan inherited was bedeviled not only by low growth and high unemployment (as with today), but also by an inflation rate of 11.8 percent when Reagan was inaugurated in January 1981. In contrast, Obama faced an inflation rate of 0 percent at his inauguration (though fears of deflation were in the air). To tackle this crippling inflation, Reagan supported Federal Reserve chief Paul Volcker in hiking the federal funds rate to 20 percent, amid widespread criticism and resistance, especially from farmers and industry. This politically courageous monetary policy was as important as the tax cuts in eventually restoring growth.
Congress. While Obama has enjoyed the luxury of his party's dominance in both houses of Congress, Reagan faced a harder political landscape in his first two years. The Democrats controlled the House by 244-191, and in the Senate 53 Republicans constituted a slim GOP majority.
National Security. Reagan believed that the Soviet threat needed to be countered more aggressively and made doing so a centerpiece of his first term. This saw international tensions increase--and fears of nuclear war further heightened the anxiety of an American public already suffering from the recession. While Obama also faces manifest international challenges, in public messaging his administration has devoted comparatively little attention to security issues such as the terrorist threat and wars in Afghanistan and Iraq. If anything, they have sought to focus public attention and political capital almost exclusively on the domestic agenda.
Leadership. Perhaps the most important dissimilarity is also the least tangible: an intuitive feel for the public mood and connection with the American people. Even some of Obama's most ardent supporters worry that he has either lost this connection or possibly never had it. Reagan always had it, which accounted for much of his enduring appeal even in politically trying times.William Inboden lists four differences between President Reagan and President Obama (h/t Peter Wehner):
William Inboden lists four differences between President Reagan and President Obama (h/t Peter Wehner):happy happy joy joy
