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Letter: This country hasn’t been on firm footing since Carter

This country hasn’t been on firm footing since Carter

At worst, New Deal performance during the Carter administration was better for average Americans than today’s institutionalized supply-side trade and economic policy and more stable for everyone.

The cost-of-living allowance offset moderate inflation. Domestic industrial capacity was still intact. Bank accounts and CDs got higher returns and were a practical alternative to today’s high-risk stock fluctuation. Average income was higher, real unemployment lower and without stimulus.

Thirty-, 40- and 50-year-olds were not subsisting with parents. People could better afford to pay the gas prices, which were as high. Lower comparative U.S. dollar value at that time poised the country for more exports. The national debt was a tiny fraction of what it is today.

Since the 1980s President Reagan’s institutionalized supply-side system has never provided enough revenue to run the country without massive deficit spending. The only exception was during the Clinton administration when deregulation and exotic sub-prime lending schemes created a temporary bubble of artificial prosperity.

To again successfully compete in the global economy, our government must return to representing “We the People” in reciprocal trade agreements. Draconian foreign labor and environmental standards, manipulated currency and protectionism must cease to be acceptable grounds for unrestricted U.S. trade agreements.

Louis L. Boehm

Orchard Park