JIm,
Even though Bush pere ran to the Saudis to beg
them to halt the decline of oil prices in 1986 because
it was hurting his oil pals in Texas, not to mention all
those real estate scamsters whose collapse led to
the S&L crisis.
Barkley Rosser
-----Original Message-----
From: Jim Devine <[EMAIL PROTECTED]>
To: [EMAIL PROTECTED] <[EMAIL PROTECTED]>
Date: Saturday, November 04, 2000 6:02 PM
Subject: [PEN-L:3966] Re: Re: Re: Bush and the Economy
>Barkley wrote:
>> It is worth remembering that Reagan had
>>the worst decline since the Great Depression
>>that began after his tax cuts were approved
>>by Congress. He did take a big hit in 1982,
>>although the Repugs continued to hold the
>>Senate until 1986. But, then he had an 8%
>>growth year in 1983 after Volcker backed off
>>tight monetarism in the face of the near collapse
>>of the Mexican debt scene in August 1982. So,
>>Reagan got away with blaming Carter for his
>>recession and took 49 states in 1984 on "Morning
>>in America!"
>
>also, RR [or rather, his handlers, since Alzheimer's was setting in] was
>able to take credit for the benefits to the US economy of the precipitous
>fall in oil prices circa 1986, helping Bush p�re to be elected in 1988.
>
>Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~JDevine
>
>
