But Reagan stuck to his guns, and the economy did fine. After shrinking 1.9 percent, after inflation, between 1981 and 1982, it grew by 4.5 percent in 1983 and 7.2 percent in 1984. And it kept growing steadily through the end of the decade.
I don’t care about revisionist historians trying to paint the 80s as some kind of economic maelstrom. It was a good decade for me, a student and a struggling designer from blue-collar roots. This article paints one of the most accurate pictures of what actually happened in this period.
Every president has his flaws, and no administration governed without major bumbles, but the above quote beautifully and simply illustrates the bottom line for the broadest sector of the population. Under Reagan, America went back to work. End of story.