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Essay / President Jimmy Carter and Big Government Spending
Even though Carter was a nice man, the role of president was not for him. His big spending and government policies have led our fragile country into one of the worst economic recessions ever seen. However, all that changed in January 1981, when President Ronald Reagan was sworn in and came to our country's aid. Reagan stepped in, ready to repair the deep scars left by introducing an economic plan, Reaganomics, in hopes of bailing out our sinking country. Although many might say that Reagan's conservative methods favored the upper class, this was not the case. In 1981, President Carter handed office to Ronald Reagan at a vulnerable time for the country. America was in an economic recession where inflation was peaking at over 13% and unemployment was at record highs. This unfortunate mix has led to stagflation problems. Stagflation, which was simply the result of high prices and unemployment with zero economic growth, showed Reagan that change would be vital to bring our country back to life (Gramm, Phil). The cure for this problem included two things: tightening the budget to control inflation and promoting growth by cutting taxes (Bartley, Robert L.). Although Reagan was once a liberal Democrat during Roosevelt's era, in 1962 he switched teams and became a leading advocate of monetary policy. Conservatives with Richard Nixon (“Ronald Reagan”). Reagan's philosophy was not just to save people through government as FDR thought, but to save people from government (Armstrong, Jennifer). He was a firm believer in small government and realized that unlimited government was one of the main reasons for the nation's collapse. Democrats mainly favor big government with lots of spending to do...... middle of paper ...... economic recession and the comprehensive plan put in place by Reagan was necessary and very beneficial for all the world. There is no doubt that Reaganomics brought about a long period of economic prosperity, helping both the upper and lower classes. In his telephone interview he said: “I don't think it's fair for anyone to suggest that they haven't benefited from this recovery” and he's right (telephone interview). America has fallen on hard times, but with the help of great political leaders, it has been revitalized and renewed. His tax cuts were justifiable with his supply-side economic theory, and his budget was able to remain intact thanks to his cuts in social programs, which were invented elsewhere. Not only did Reaganomics help save America in a desperate time of Reagan's reign, but it also had lasting positive effects for years to come, leaving the economy booming..