4. Stable Monetary Policy – A restrained growth in money supply balanced a demand to control inflation and maintained the value of the dollar.
Reagan’s plan unshackled the private sector. As he put it:
“Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."
His policies reduced inflation from almost 13% in 1981 when he took office to 3.2% in 1983. Over his two terms, 20 million new jobs were added, reducing unemployment to 5.3% in 1989.
Can we do this again? Yes, if we follow Mr. Reagan’s common-sense policies. The alternative is an unthinkable acceleration down The Road to Serfdom, described so well by one of Mr. Reagan’s favorite economists, F.A. Hayek.
The Reagan Resolve is a reminder of America’s greatness and a roadmap to steer us off that highway on which we’ve been recklessly speeding.