r/politics • u/PostHeraldTimes ✔ Verified • 1d ago

Ted Cruz Warns Trump Tariffs Could Lead To a 'Bloodbath' For Republicans In Midterm Elections

https://www.latintimes.com/ted-cruz-warns-trump-tariffs-could-lead-bloodbath-republicans-midterm-elections-579998
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u/The_Lost_Jedi Washington 1d ago

Seriously. When will people disabuse themselves of this insane shibboleth that Republicans are somehow good for the economy? You can even go back before Clinton, where Bush had a recession that led to Clinton winning. The last time things were even facially better were Carter to Reagan (and even then I'd argue that Reagan did a bunch of bad stuff that we're all still paying for now).

The only people Republicans are actually better for are the ultra wealthy, as they get more and more of our money transferred to them.

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u/Oodlydoodley 1d ago

The last time things were even facially better were Carter to Reagan

Not really, but Reagan was good at convincing people otherwise. Between world events and problems during the 70's he won office partly because of a short recession that started in January of 1980, but that had recovered by June... and then Reagan still managed to kick off the worst recession in 50 years a year later, about seven months after taking office, that lasted for almost a year and a half. And then he triggered another recession in 87 after that. Reagan was extremely good at passing the blame for it onto Carter, and it sort of stuck because of the campaign year downturn prior to Reagan's election, but the worst of it didn't start until after Reagan was calling the shots.

It's Republican tradition. Nixon and Ford had one from 73 to 75, Eisenhower had a recession named after him in 58, then Hoover...

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u/The_Lost_Jedi Washington 1d ago edited 1d ago

Hence why I said facially. Also, keep in mind that what hurt Carter wasn't a lack of growth in GDP so much as inflation. Carter was the one who appointed Paul Volcker as Federal Reserve Chairman, who is really why we were able to get inflation under control, but it didn't really kick in until Reagan was President, hence Reagan wrongly got the credit in the mind of a lot of people.

But yeah, on its face a lot of people gave Reagan credit and blamed Carter, but the cause of that bad inflation wasn't Carter, it was in the Nixon/Ford presidencies, and although Carter was the one who did the real work to fix it, Reagan ended up getting the credit in peoples' minds.