Unlike many previous presidents, Ronald Reagan viewed government and regulation as the source of our economic problems and not the solution. According to Peter Ferrara in “Reaganomics vs Obamanomics” Ronald Reagan said in his speech during his first inauguration “ In this present crisis government is not the solution to our problem; government is the problem”. This shows that people of his generation tended to be more independent and solve their own problems rather than be dependent and expect the government to do it for them. According to William Niskanen in “Reaganomics” Ronald Reagan adjusted the tax code so that the wealthiest would pay the lowest taxes and invest more money in the economy, while this policy was in effec,t the number of billionaires doubled. This shows the tendency of members of Ronald Reagan's generation not to bite the hand that feeds them and to help the people who keep them employed. This ultimately divided and polarised the political parties between those who support President Reagan and his policies and those who don't support President Reagan and consider his policies a failure.
To the contrary of Reaganomics / Obamanomics is based on the idea that increasing the size of the government and borrowing money to do so will speed up the economy and keep it moving. Accor...
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Niskanen, William.”Reaganomics.”econlab. Liberty Fund,inc, 1988. Web Febuary 13 2014. www.econlib.org/library/encl/reganomics.html
Peter,Ferrara. “ Reaganomics vs. Obamanomics: Fallacies Offered by the Left.” Forbes. Forbes LLC, May 12 2011. Web. February 13 2014. ww.forbes.com/sites/peterferrara/2011/05/12/reganomics-vs-obamanomics-fallacies-offered-by-the-left/
“The Barack H. Obama Administration”Presidential Administration Profiles for Students. Student Resources in Context. Web. 10 Feb. 2014
“The Ronald Reagan Administrations.” Presidential Administration Profiles for Students. Ed. Yelles. Sisung and Greda - an Raffaelle. Detroit:Gale Group. Student Resources in Context. Web. 10 Feb 2014
Roberts,Steven.”The Nation;Reagans Social Issues:Gone but Not Forgotten”. Ny Times.NY Times, September 11 1988.Web.February 13 2014. www.nytimes.com
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