Tuesday, September 9, 2008

History Test

Age And Experience: The Reagan Resume

When President Reagan assumed office on the eve of his 70th birthday, U.S. inflation under his predecessor had zoomed from 5% to 15%, the prime interest rate had soared from 6% to 21% (the highest since Lincoln), 30-year mortgages were 18%, gas stations had long lines and even-and-odd license-plate days, and the communist Soviet Union had overthrown and seized seven more countries in strategic areas around the world.In the previous 10 years, according to Democratic Sen. Sam Nunn, Russia had spent $104 billion more on its military and $40 billion more on research and development than the U.S. This resulted in four new ICBMs, the Backfire bomber, the SS-20, missile-firing submarines, new tanks, new air defense systems and whole new classes of ships. The Soviets had huge tactical nuclear superiority in Europe.......Now read the rest of the story, because you may be surprised at what you've forgotten, or didn't know....MORE....


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