Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10 beta 3/9/83; site cosivax.UUCP Path: utzoo!watmath!clyde!burl!ulysses!gamma!epsilon!mb2c!uofm-cv!cosivax!dzd From: dzd@cosivax.UUCP Newsgroups: net.politics Subject: Resentment of Ferraro Message-ID: <162@cosivax.UUCP> Date: Fri, 26-Oct-84 16:02:46 EST Article-I.D.: cosivax.162 Posted: Fri Oct 26 16:02:46 1984 Date-Received: Sun, 28-Oct-84 04:40:17 EST Organization: COSI, Ann Arbor, MI Lines: 111 I resent it when Ronald Reagan lays claim to the memory of President Kennedy and pretends he has anything in common with that good man. Geraldine Ferraro Boston, 26 September 1984 Ms Farraro would like us to believe, that she and her running mate have something in common with JFK. This shows how Democrats have drifted out of the mainstream to become sloganeering special-interest-group panderers. A frequent object of her scornful attacks, Reaganomics, was "lifted, lock, stock and latch key from the 1962-1963 'JFK model'." Consider these comparisons:[1] POLICIES Tax Cuts In 1963-65, the Kennedy-Johnson administration carried out a 23% across-the-board personal income tax cut, coupled with elaborate new investment tax credits for industry. In 1982-84, the Reagan administration did the same with approximately the same levels of reduction for both individuals and business. Revenues In 1964, these were 18.1% of GNP In 1984, 18.8 % of GNP; down from the peak 21% by Carter-Mondale in 1981. DoD Increases In 1962-64, the Kennedy administration increased real defense spending 5% per year. In 1982-84, the Reagan administration increased defense by an average of 8% per year. DoD Spending In 1964, the Kennedy-Johnson administration spent 8% of GNP and 43% of Federal budget on defense. In 1984, the Reagan administration spent 6.2% of GNP and 27% of Federal budget on defense. Social Spending In 1964, the Kennedy-Johnson administration spent 5.5% of GNP and 32% of Federal budget on social programs. In 1984, the Reagan administration spent double that: 11.4% of GNP and 54% of budget. Main Difference President Reagan is slightly more "liberal" than President Kennedy; spending somewhat less on defense and more on social programs. RESULTS Productivity In 1964, increased 4.3% In 1984, increased 4.1% Real Wages In 1964, up by 1.8% In 1984, up by 2.0% after steady decline under Carter-Mondale Real GNP In 1964, grew by 5.3% In 1984, grew by 6.2% Inflation In 1964, 1.2% In 1984, 4.0% -- down from 12.4% under Carter-Mondale. NAME THAT SPEAKER 1. "Our true choice is not between tax reduction ... and the avoidance of large federal deficits ... So long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenue to balance the budget -- just as it will never produce enough jobs or profits."[2] 2. "I must warn against stimulating [the economy] by increasing federal expenditures more rapidly than necessary, [because] such a course would soon demoralize both the government and the economy."[3] 3. "Born in the safe harbor of freedom, economic growth has gathered force and rolled out in a rising tide that has reached distant shores."[4] To avoid being 'banned in Boston', Ms Ferraro's shrill resentment can only rely on naive ignorance of the early 1960s and/or of current economic facts. This is called "issues-oriented" campaigning. ---------- 1. Data From "Reaganomics: Vintage JFK" by Warren T. Brookes Detroit News (26 October 1984) 2. John F. Kennedy, New York Economic Club: December 1962 3. John F. Kennedy, loc. cit. 4. Ronald Reagan, IMF annual meeting, Washington, D.C., September 1984 _______________________________________________________________________________ Dean Douthat I have no connection with COSI except as a guest on their VAX.