Friday, April 1, 2011
Morning Bell: Stop Sending Jobs Overseas | The Foundry: Conservative Policy News.: "The United States was once a leader in tax rate reduction. In 1981, President Ronald Reagan passed a broad tax cut package to encourage economic growth. How well did it work? Just compare the drops in unemployment from both the Reagan and the Obama economic recoveries. Since the Obama recovery began 21 months ago, the national unemployment rate has fallen only 0.6 points, from 9.4 percent in July 2009 to 8.8 percent today. Contrast those anemic results with the robust job growth that occurred during the Reagan recovery in the ’80s. By the 21-month mark of the Reagan recovery, unemployment had dropped from 10.8 percent to 7.5 percent—a 3.3 point drop."