Ahead of Friday’s job report from the U.S. Department of Labor, Peter Morici of The Street compares job creation under the current Administration to that during Ronald Reagan’s presidency.
The reason Reagan was able to create so many more jobs in a much smaller economy is quite simple. It wasn’t just lower taxes and less spending but a reliance on private decisions to guide recovery. He cleared a path for businesses, large and small, to invest as they deemed fit and raise wages as they decided they could afford. He encouraged the unemployed to get out and look for work.
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