In 1980, I bought a house in Portland, where I was hired as a teacher. My mortgage rate was 14.8 percent. “Unheard-of,” you youngsters say? Oh, not so.
Guess who was president? Jimmy Carter, a Democrat (Jan. 20, 1977, to Jan. 20, 1981). He’s a nice man, but the economy was not his strong point! And isn’t it all about the economy?
Inflation rates during Carter’s administration were 7.59 percent in 1978, 11.35 percent in 1979, 13.5 percent in 1980 and 10.32 percent in 1981. Wow!
Carter was succeeded by Ronald Reagan, a Republican (Jan. 20, 1981, to Jan 20, 1989). In his first year of office, the inflation rate dropped to 7 percent, the second year to 3.21 percent and went on to average under 3 percent!
I have now been a retired teacher for many years and have not worried about my relatively fixed income … until now! Over the last couple of years, under this new Democrat administration, I have watched prices and salaries (not mine) go through the roof. I am worried now!
This year’s overall inflation rate is 7.5 percent, and gas is up 40 percent over the past year. Welcome back, Carter!
Note that the inflation rate, during the administration of Donald Trump, a Republican, averaged under 2 percent, despite the dire warning by the previous president, Barack Obama, that the doldrums experienced during his presidency were the “new normal.”
Is math science? Last I knew, it was. “Follow the science” when you vote.
Robert Kammann
Westport Island
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