Michael Barone

 The celebrations and appreciations of Ronald Reagan pouring in since his death last Saturday mostly pass over one thing about his presidency -- his strength in persisting in his policies, staying the course, through politically difficult times. For his poll numbers were not always high; for a considerable time, they were much lower than George W. Bush's have ever been. And the crescendo of criticism from the cognoscenti was at least as sustained during his presidency as in Bush's.

 Take the economy. Reagan got his tax cut bill through Congress in July 1981. But it postponed the first tax cut until Jan. 1, 1983. Reagan had had to accept that date as a compromise to get the votes to pass the bill.

 In the meantime Federal Reserve Chairman Paul Volcker persisted in his stringent interest-rate policy and the prime rate stayed up around the 11.5 percent to 20.5 percent level. Those interest rates squeezed the inflation out of the economy. But they also squeezed out a lot of jobs. Unemployment was above 10 percent from September 1982 to June 1983 -- the highest rates since World War II and far above the recent peak of 6.3 percent in June 2002. Hundreds of thousands of jobs vanished in the Rust Belt. The gross domestic product in real dollars fell in 1982 and in 1983 was up only 5.5 percent from five years before.

 Democrats attacked "Reaganomics" for creating the deepest recession since the Great Depression. Reagan's job approval sank to 40 percent and below, bottoming in the Gallup poll to 35 percent positive and 56 percent negative in January 1983. In the November 1982 elections Republicans lost 26 seats in the House, leaving Democrats with the working majority they had not had in Reagan's first two years.

 So there was heavy pressure on Reagan to change course. But he refused to put any pressure on Volcker to lower interest rates. He waited for his tax cuts to take effect, and they did. In March 1983 the economic expansion began, which lasted for the rest of Reagan's two terms. By the 1984 campaign season the Democrats no longer were attacking "Reaganomics," as Reagan gleefully noted. It was "morning in America," as the Reagan ads proclaimed, and Reagan was re-elected with 59 percent of the vote.


Michael Barone

Michael Barone, senior political analyst for The Washington Examiner (www.washingtonexaminer.com), is a resident fellow at the American Enterprise Institute, a Fox News Channel contributor and a co-author of The Almanac of American Politics. To find out more about Michael Barone, and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com. COPYRIGHT 2011 THE WASHINGTON EXAMINER. DISTRIBUTED BY CREATORS.COM