Jimmy Carter is heaving a great sigh of relief…his ‘malaise’ moment is being replaced.
(35 years ago, then-President Carter blamed consumption-centric American citizens for the ‘crisis of confidence’ that was gripping the nation, absolving Democrat-created 13% inflation, 21% interest rates, or an energy crisis due to over-reliance on Middle East oil.)
Not surprisingly, Republican Ronald Reagan won a landslide victory the next year.
Now, fast-forward to today.
According to apologists for the Democrats’ current economy-dampening policies, we as Americans should get used to a new sub-growth norm, defined as ‘Secular Stagnation’.
Irwin Stelzer defines the term as “that the economy’s historic potential, its ability to produce goods, services and rising prosperity, can no longer be fully realized.”
In other words, subpar growth and nagging unemployment are the new normal.
From ‘crisis-of-confidence’ to ‘secular stagnation’…prevailing wisdom, redux.
But economists who predict America’s best days as being over fail to see that the crisis of confidence in the ’70’s and current secular stagnation have a common theme…
…they’re both results of Democrat policies…that can be reversed.
A Reagan presidency did it in the ’80s…
…a GOP-controlled House & Senate can do it again.
November midterms can’t get here fast enough.