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APPENDIXDo YOYO Policies Yield Better Economic Outcomes?

AS THE INDICATORS in appendix table 1.1 show, periods when YOYO policies were in ascendance are not associated with better economic outcomes. To the contrary, during the periods when such policies were most aggressively pursued—the administrations of Ronald Reagan and George W. Bush—the results were generally the least impressive, especially for the typical family’s income.

The table shows the annualized growth rates of variables in the U.S. economy over (mostly) ten-year periods, with two intervals broken out for special comparison. The years chosen generally represent peaks in the economic business cycles, as defined by the National Bureau of Economic Analysis (a swinging set of ...

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