Cruz Quote Compares Obama and Reagan Recoveries

Posted by Tina

“Reaganomics means you start a business in your garage; Obamanomics means you move into your parent’s garage.”

I saw the quote in an article in Good reading and it includes an eye opening chart on employment under the two administrations.

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6 Responses to Cruz Quote Compares Obama and Reagan Recoveries

  1. Harold says:

    Move into your parents garage?, maybe providing they haven’t lost it along with the house due to continued unemployment prolonged by a Barnie Frank assisted foreclosure. But that would be Bush’s fault to hear them Dems spin it.

  2. Peggy says:

    Another quote I heard, but don’t remember who said it. “Under this administration we’re dealing with raising the minimum wage instead of talking about people earning the maximum wage.”

    With so many people unemployed looking for any job they can get there’s no incentive for employers to offer a higher wage.

  3. Tina says:

    That may have been Art Laffer, Peggy.

    I went in search of an answer and found this inforamtive article at CATO that asserts, “…the glowing claims about minimum wage laws don’t pass the most basic economic tests.”

    CATO researched various nations with and without minimum wage laws, compared the data (see charts), and came to the following conclusions:

    In the twenty-one E.U. countries where there are minimum wage laws, 27.7% of the youth demographic — more than one in four young adults — was unemployed in 2012. This is considerably higher than the youth unemployment rate in the seven E.U. countries without minimum wage laws — 19.5% in 2012 — a gap that has only widened since the Lehman Brothers collapse in 2008.

    So, minimum wage laws — while advertised under the banner of social justice — do not live up to the claims made by those who tout them. They do not lift low wage earners to a so-called “social minimum”. Indeed, minimum wage laws — imposed at the levels employed in Europe — push a considerable number of people into unemployment. And, unless those newly unemployed qualify for government assistance (read: welfare), they will sink below, or further below, the social minimum.

    As Nobelist Milton Friedman correctly quipped, “A minimum wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.”

    That’s one of the problems with progressive ideas…they always start from settling for the mediocre solution. Why not support solutions that have the potential to lift people well into the middle class and beyond?

  4. Peggy says:

    Vote the bums out!!

    Next Weekend, House Republicans Collaborate With Left-Wing Interests Against Conservatives:
    By Erick Erickson

  5. Peggy says:

    Obama today got a taste of what the rest of the world thinks of him.

    Barack Obama Knows Now What It’s Like to Give a Speech Where Only One Man Claps:
    “Okay, THAT was certainly embarrassing. At the end of a joint news conference with Dutch Prime Minister Mark Rutte in the Netherlands on Tuesday, the applause for Barack Obama came from a grand total of one guy. One.

    After thanking the crowd twice for suffering through his boring, standard worn-out spiel, Obama looked around the room, expecting the usual fanfare and applause he receives from his loyal followers back home. It never came.

    Instead, the Leader of the Free World was met with one slow, awkward clap. Question: was MSNBC’s Chris Matthews in the house?”

  6. Tina says:

    The lines are being drawn Peggy. Next November will hopefully give us a group with some backbone to at least bust through some of the barriers to growth if not remove them all together!

    That video is pretty sad. I still feel for this man even as I can’t stand the mess his policies have made and will make…he was not ready to be President.

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