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.”