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Liz Peek has the awful numbers: The most memorable thing about the Carter presidency was that the economy grew at 3.25% on average, not much below Ronald Reagan’s 3.49%, but inflation soared. “Stagflation,” as it was called, devastated the nation. Seniors living on fixed incomes suffered horribly, with their monthly Social Security checks and pension benefits eaten up by rising costs of food, gasoline and other necessities. The economic situation under Carter can best be described by the so-called “misery index” compiled during his years in office, which combines the unemployment rate with the inflation rate. Under Carter, the index averaged 16.26, the highest of any modern president. ....
Mostly because Uncle Sugar is handing out the free money, extended unemployment benefits, etc. It’s like having a job, but without all that nasty work. Employers are begging for workers, and would-be workers are saying, “Maybe next month.” Even so, prices on everything are up, and Insanity Wrap saw a report recently that there could even be gas shortages this summer. So we’ve got runaway government, increasing inflation, an economy choking on expensive raw materials and missing computer chips. Insanity Wrap is going to put on some double-knit, massive plaid trousers, and a polyester shirt with a collar wider than the wings of a B-52, and we’ll be right back in the 1970s. ....