Reaganism vs. Obamaism

Ronald Reagan transformed America. Obama is doing the same, but in a different way than Reagan.

Ronald Reagan succeeded Jimmy Carter and the economy was not doing well at the time. Massive inflation, high unemployment rate and a disastrous military operation in Iran were the results of Carter’s presidency. In his first speech as President, Ronald Reagan said: “In this present crisis, government is not the solution to our problem; government is the problem.”

During his first term as President, Reagan cut government and lowered taxes, having as an economic adviser Arthur Laffer who created  “The Laffer Curve”, which states that high taxes are an economy killer that results in high unemployment rate and poverty. During Reagan’s first term the economy started to grow again and the unemployment rate decreased significantly. As a result of his policies, Reagan got reelected by a huge margin; he won in 49 states, losing only in The District of Columbia and Minnesota.

During Obama’s first term he grew the Government in more than 30% and increased the debt in $6 trillion, more than the 8 years of George W. Bush Presidency. He also increased the Government’s role in the economy which now accounts for over 40% of the GDP.

In Obama’s world the Government is the solution for everything. Reagan had a different point of view which was small government; low taxes rates, more freedom for individuals.