A Gen-X Perspective on Our Nation's Decline

After growing up in a decade of gas lines, recession, Watergate, withdrawal from Vietnam, and the Iranian hostage crisis, our eyes came into full focus in the second decade of our youth, the 1980s. Life looked good.  We were presented an optimistic vision of America, and we enjoyed the comforts of our parents' success, enabled by generations before them.  We were privileged to come of age during those halcyon years. We really did not understand what it meant to work, suffer, or sacrifice. Between 1980 and 1988, our GDP growth went from negative 0.3% to 4.1%, unemployment dropped from 7.1% to 5.5%, and inflation fell from 13.5% to 4.1%.  As Ronald Reagan reduced the marginal tax rate from a high of 70% to 28%, our economy added 21 million new jobs.  After the malaise of the previous twenty years, America was back, standing tall and strong. We grew up expecting to surpass our parents in economic success.  We had no doubt about America's bright future; Reagan...(Read Full Article)

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