A lot of the baillout in housing is needed on the coasts. These are blue states.
History is funny. Regan was suppose to help the wealthy yet he eliminated the deduction on properties past primary and vacation.
The carter years on the other hand were marked with % rates at 18 and 19%.
How does politics come in here? I would anticiapate loose monetary policy right up until the election next year. That will provide leverage for Republicans to say to many americans, ” are you better off now than you were 8 years ago?” For a majority of Americans the answer is yes.
It will be the job of Democrats to show that the gains were marginal and that the war had we not entered into a war we would be basking in prosperity.
