On the other hand, going back to Reagan’s first six recovery quarters, real GDP averaged 7.7 percent annually while nonfarm payrolls rose by 5.3 million.
No two situations are exactly alike. Reagan inherited massive double-digit inflation with 20 percent interest rates. Obama was left with a colossal financial meltdown. But Reagan’s economic vision put private-sector free-enterprise at the center. Obama has chosen a massive expansion of government power.
These are huge differences. One succeeded, while thus far the other has not.