October 22, 2012
By Dr. Paul Kengor
As posted at The Center for Vision and Values
As a biographer of Ronald Reagan, I’m constantly asked to compare today’s fiscal/economic situation to what Reagan faced in the 1980s. Today’s record debt/deficits remind of the 1980s, though today’s are far worse, with the deficit at least six times as high—and debt-to-GDP and deficit-to-GDP ratios two and three times (respectively) higher. The current economy is the worst since the early 1980s, with a prolonged non-recovering “recovery” older still. By 1984, the Reagan recovery was not just in bloom but exploding, with dramatically improved unemployment and economic growth six times higher than the current anemic rate, awarding Reagan millions of Democratic votes as he swept 49 of 50 states in his re-election.
But one comparison I haven’t been asked about are today’s homeless levels vs. those under Reagan. That’s a notable omission. One who has noticed is Dr. Tracy Miller, an economist and colleague of mine. Miller recently visited Chicago, where he went to graduate school in the 1980s, and was struck by what he saw. “I couldn’t help but notice the large number of homeless people in the downtown area,” says Miller, “including one homeless man pushing a child in a stroller.”
Miller observes: “Homelessness was frequently discussed during the 1980s, but seems to receive less media attention now. And yet, the number of homeless today is approximately twice as large as it was in the 1980s.”
Read the rest of Dr. Kengor’s article here.