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JimboFletch -> RE: JIMMY CARTER'S NEGOTIATING WITH TERRORISTS!!! (4/18/2008 10:50:48 AM)
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quote:
ORIGINAL: blessedinnyc quote:
ORIGINAL: mapachito13 But he put our economy in the toilet with double digit inflation which was exacerbated by our debt from our entanglement in a foreign war! In many ways, Carter did the right thing. He did what Bush should be doing now and the next US president will certainly have to do if we want to remain an empire. Volcker was the first Fed chief to realize that higher interest rates mean lower inflation, so in many ways, Carter wasn't an idiot for appointing him. Carter also worked on getting America less dependant on foreign oil. Were it not for Carter's work on alternative energy- with ethanol, wind, and nuclear- the US would be in much worse shape today than it is now. The difference between Carter and Bush is that Carter had to clean up the mess an inflationary Nixon left behind. The US basically defaulted when it came to Bretton Woods, which left us with double-digit inflation through most of the '70s. Combine with that the fact that Nixon thought the fed chairman was supposed to keep the economy humming along even if it meant inflation, and you've got a big mess on your hands. In many ways, Bush is the Nixon that is leaving behind a budgetary and monetary mess for the next administration to clean up. Whatever else Carter might have done, he was a major factor in my leaving a 9+ year military career because of the miserly 3 & 4% raises he was giving us during all that double-digit inflation.
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