CAL THOMAS COMMENTARY DECEMBER 8, 2025
IF YOU REMEMBER RONALD REAGAN’S FIRST TERM, YOU’LL RECALL THE “MISERY INDEX.” THAT WAS THE DOUBLE-DIGIT INFLATION, DOUBLE-DIGIT MORTGAGE RATES AND DOUBLE-DIGIT UNEMPLOYMENT REAGAN INHERITED FROM HIS PREDECESSOR, JIMMY CARTER.
IT TOOK REAGAN NEARLY ALL OF HIS FIRST TERM TO GET THIS UNDER CONTROL AND FOR PRICES TO COME DOWN. STAGFLATION AND A RECESSION CONFRONTED HIM, BUT HE PRESSED-ON WITH THE RIGHT ECONOMIC POLICIES. HE CUT TAXES, DEREGULATED, AND SPURRED INVESTMENT. NEAR THE END OF HIS FIRST TERM IT WAS “MORNING IN AMERICA AGAIN,” AS THE POLITICAL AD SAID.
THE SAME CHALLENGES ARE FACING PRESIDENT TRUMP. HE, TOO, HAS CUT TAXES, DEREGULATED AND HAS SAID TRILLIONS OF DOLLARS ARE COMING INTO THE COUNTRY THROUGH TARIFFS. STILL, MAJOR LAYOFFS ARE OCCURRING IN MANY COMPANIES.
DEMOCRATS THINK THEY CAN WIN ON THE ISSUE OF “AFFORDABILITY,” BUT THIS COULD BE A TRAP. VOTERS NEED TO BE REMINDED OF THE BIDEN ECONOMIC POLICIES. AGAIN, IT TOOK REAGAN MORE THAN THREE YEARS TO GET THINGS UNDER CONTROL. TRUMP IS HAVING SUCCESS IN LESS THAN ONE YEAR AND IT IS LIKELY TO GET BETTER. WILL PEOPLE FEEL IT BY THE MIDTERMS AND GIVE REPUBLICANS CREDIT? WE’LL KNOW SOON ENOUGH. BUT HISTORY MIGHT WELL REPEAT ITSELF.I’M CAL THOMAS.
