Prime Interest Rates began climbing sharply in late 1978, first going above 10% in November, then above 12% in September of 1979. But they didn’t reach 20% until December 1980, after Reagan was elected but before he took office. They hit a peak of 20.39 in July of 1981, after Reagan took office. Prime remained high throughout 1981 & 82 - staying above 16% until August 1982. They fluctuated mostly between 11-12 for the next 3 years. Prime finally dropped below 10% in June of 1985. So Reagan was in office during the majority of the interest rate crisis from 1978-1985, including when it hit it’s peak. Unemployment also peaked just under 11% on Reagan’s watch, which is the highest it’s ever been outside the Great Depression.


Edited to add:
You’re taking this a little too personally. I haven’t accused you of saying “the Pubs haven’t screwed up”. I just post facts.

The thing that hurts the long-term wealth and standard-of-living of more normal hard-working americans than anything else is recession. More than high interest rates, or even inflation. So of course I’m going to call out whoever is in charge when it happens. To be honest with you, I can't imagine why anybody wouldn't - regardless of party. If we had that many recessions under Democratic Presidents, I’d be saying the exact same thing. No, the Dems aren’t perfect. But for the most part, our economy is stronger when we have a Dem in the White House.

[Post edited by RedDawg at 08/09/2016 10:16PM]