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From the L.A. Times: "Almost all the swing states are better off than they were two years ago," said Xu Cheng, a senior economist at Moody's Analytics who publishes monthly election forecasts based on the economic performance of the states. "That's the reason why President Obama has the edge over Romney."
http://www.latimes.com/business/la-fi-swing-state-economies-20121003,0,7107848.story
;During Reagan's presidency, federal income tax rates were lowered significantly with the signing of the bipartisan Economic Recovery Tax Act of 1981which lowered the top marginal tax bracket from 70% to 50% and the lowest bracket from 14% to 11%.
The Tax Reform Act of 1986 further reduced the top rate to 28%, raised the bottom bracket from 11% to 15%, and, cut the number of tax brackets to 4.
Congress passed and Reagan signed into law tax increases of some nature in every year from 1981 to 1987 to continue funding such government programs as Tax Equity and Fiscal Responsibility Act, Social Security, and the Deficit Reduction Act. Real GDP growth recovered strongly after the early 1980s recession ended in 1982, and grew during his eight years in office at an annual rate of 3.85% per year.
Unemployment peaked at 10.8% monthly rate in December 1982—higher than any time since the Great Depression—then dropped during the rest of Reagan's presidency. Sixteen million new jobs were created, while inflation significantly decreased. The net effect of all Reagan-era tax bills was a 1% decrease in government revenues when compared to Treasury Department revenue estimates from the Administration's first post-enactment January budgets. However, federal Income Tax receipts increased from 1980 to 1989, rising from $308.7 billion to $549 billion.
Receipts grew at an average rate of 8.2% (2.5% attributed to higher Social Security receipts), and federal outlays grew at an annual rate of 7.1%.
Reagan's policies proposed that economic growth would occur when marginal tax rates were low enough to spur investment, which would then lead to increased economic growth, higher employment and wages.
What Reagan did worked, now didn’t it?
In February 2009, he stated: "That's why today I am pledging to cut the deficit we inherited by half by the end of my first term in office."
(FYI: Definition of pledge is a promise or undertaking.)
BTW, is it you that likes PolitiFact so much? How about checking out their Promis Broken Ruling for Obama.....ALL 5 PAGES.