Reagan took over an economy that was destroyed by the Carter administration. One of the first things that changed after Reagan took office was the policies of the Federal Reserve that had the country awash in money ... that caused the huge inflation rate of the Carter years. As the money supply receded, the country went into the 1980-1983 recession. It was Reagan's version of "Tough Love." Once the Reagan tax cuts took hold, along with stabilized interest rates, the country was booming again. In fact, the next several presidential terms benefited from it.

The chart shown on this link shows the result of the Federal Reserve tightening the money supply from '80 to '83.

So, who's really lying here?

Ronald Reagan-1948 Last Time He Told the Truth

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"Democracy must be something more than two wolves and a sheep voting on what to have for dinner."
-- James Bovard,