Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
November 27, 2014

Reagan: The Great Job Creator?

In light of the attacks on Rick Perlstein’s new book, The Invisible Bridge: The Fall of Nixon and the Rise of Reagan, Paul Krugman examines President Reagan’s record as a job creator.

“Everyone on the right knows that Reagan presided over job creation on a scale never seen before or since; but it just isn’t so.”

“You may have known that Clinton was a better ‘job creator’ than Reagan, but did you know that over the course of the Carter administration — January 1977 to January 1981 — the economy actually added jobs faster than it did under Reagan? Maybe you want to claim that the 1981-82 recession was Carter’s fault (although actually it was the Fed’s doing), so that you start counting from almost two years into Reagan’s term; but in that case why not give Obama the same courtesy? The general point is that the supposed awesomeness of Reagan’s economic record just doesn’t pop out of the data.”

080814krugman1 blog480 Reagan: The Great Job Creator?

  • MrBeale

    Modern perception of Reagan bears little resemblance to what actually happened during his administration, and distorts our politics for the worse.

  • nanotab

    I remember the days of Reagan’s administration, and I recall it as being pretty disastrous on the domestic front.

  • Lorehead

    Also, neither Reagan’s tax cuts nor George W. Bush’s ever paid for themselves before the tax rates were changed again. (And Reagan actually raised taxes substantially on the middle class.)

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