In 1980 President-Elect Reagan’s Committee on Economic Policy prepared a memo entitled “Economic Strategy for the Reagan Administration”. It’s an interesting and informative read because the U.S. is now like then facing significant economic issues. The memo cites the following key issues:
• Reestablish stability in the purchasing power of the dollar.
• Achieve a widely shared prosperity through real growth in jobs, investment, and productivity.
• Devote the resources needed for a strong defense, and accomplish the goal of releasing the creative forces of entrepreneurship, management, and labor
• Restrain government spending.
• Reduce the burden of taxation and regulation.
• Conduct monetary policy in a steady manner.
Whatever your politics these issues require careful consideration and bipartisan effort to resolve. They also underscore the importance of being financially literate about your vote in the upcoming election. Excerpts from the memo may be found at the The Wall Street Journal.