AviationBanter - View Single Post - "Analyst: Obama Would Be A Nightmare For Defense Programs, Firms"

**Dan[_9_]**

Ed Rasimus wrote:
On Wed, 23 Apr 2008 09:42:23 -0600, "Glenn Dowdy"
wrote:

"Ed Rasimus" wrote in message
...

Carter cut programs in the military aggressively, froze promotions and
military pay/allowances for three of his four years, gave us 22%
inflation and an 18% prime interest rate,
How did a president 'give' us those rates?

Glenn D.

Generally the state of the economy is attributed to the economic
policies of the incumbent president. (Recall Clinton's claim of
leaving a balanced budget and reducing the national debt? Notice the
attribution of the current market decline, AKA recession, to Bush tax
cuts? Recall the Reagan tax cuts followed by increases in federal
revenue followed by a spending orgy by the Congress?)

If you take office with 4% inflation and 6% interest rates and in four
years without a major cultural shock like a 9/11 or significant war
the inflation rate has skyrocketed and interest rates make home owners
instantly "wealthy" but home buyers turn into apartment seekers, you
take the blame.

If your successor cuts taxes and within three years the indicators are
significantly reversed, we can assume a cause/effect relationship.

Ed Rasimus
Fighter Pilot (USAF-Ret)
"When Thunder Rolled"
www.thunderchief.org
www.thundertales.blogspot.com

Yeah, no oil embargoes or OPEC cartels raising prices at all... No
major revolutions in the oil patch...

D'oh!

Dan