I learned what the word malaise meant as a kid because of Jimmy Carter.
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In truth even FDR originally ran to balance the deficit. This problem is a feature of US liberalism, not a big.
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Austerity is a really remarkable political move because at least in the last 30 years, it has no constituency and remains popular among politicians. It's not how politics is supposed to work!
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Carter at least had the excuse of high inflation and extraordinarily high interest rates actually damaging the economy directly.
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I feel like Carter’s presidency is not scrutinized enough
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Foreign policy Reaganism also began with Carter--grain embargo, Olympics boycott, beginnings of aid to the muhajideen.
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I think “embrace austerity” is a very strong term. Years of double digit inflation left him open to suggestion as to how to address that.
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Perlstein’s contention is that double digit inflation is only bad for rich people and Carter(and Volker) should have ignored it and done nothing

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