"Analyst: Obama Would Be A Nightmare For Defense Programs, Firms"

In article ,
"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.

A fair objection. The rates were set by Paul Volker in a system designed
to shield the setting of interest rates from immediate political
control. Yet Volker was nominated my Carter, so there is some
connection. The concurrent high inflation and high unemployment rates of
the '70s does not fit well with standard economic theories, even after
all these years I have not seen a good academic explanation. I think
this is part of the reason that people don't take economics seriously
anymore.

The real problem with Carter was that he was a white Southerner who
supported segregation during the Civil Rights movement and tried to make
up for it later on by (deleted) any non-white person who came along.