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Detailed text transcripts for TV channel - CNN - 20190127:06:17:00

Could. that was working, but the problem was, interest rates were going up to 18%. it s like chemo therapy for the economy. it kills a lot of other things along the way. the government can live with high unemployment to curb inflation. that seems to be a high place for us to be. this is supposed to be the land of opportunity. it s not anymore. it s the land for the rich and the poor can go to hell. i think we re going to have some hard times for the next few months. while we predicted a stagnant economy, none of us predicted the stepping over into recession. when david stockton came in and said the deficit is getting larger, reagan apparently was shocked. perhaps he had been too beguiled by his own supply side rhetoric. reaganomics was not generating enough revenue. the theory if you detax the rich, everybody will be better ....

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Detailed text transcripts for TV channel - CNN - 20190127:06:16:00

Strikers and the government claimed it was ready to rebuild the whole system without them. this sent a different message. many unions were terrified. and it sent a bigger message what kind of leader he would be. he was not scared to do what was controversial. if ever a presidential policy reflected the president s own character, it is reaganomics. it s so personal it barely qualifies as an economic theory. but the trouble is, it s not working. it s been the single overwhelming failure of the reagan administration. 12 million americans out of work, the highest rate of inflation since the 1930s. business got steadily worse. fakctories closed, the federal deficit skyrocketed. inflation had been brought under control, but at a terrible cost. reagan was trying hard to kill inflation as fast as he ....

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