US Presidency
1984

As average monthly mortgage payments more than doubled, home building nearly ground to a halt; tens of thousands of carpenters and others were thrown out of work. And who controlled both Houses of the Congress and the executive branch at that time? Not us, not us. Campaigning across America in 1980, we saw evidence everywhere of industrial decline. And in rural America, farmers ' costs were driven up by inflation. They were devastated by a wrongheaded grain embargo and were forced to borrow money at exorbitant interest rates just to get by. And many of them didn't get by. Farmers have to fight insects, weather, and the marketplace; they shouldn't have to fight their own government. The high interest rates of 1980 were not talked about in San Francisco. But how about taxes? They were talked about in San Francisco. Will Rogers once said he never met a man he didn't like. Well, if I could paraphrase Will, our friends in the other party have never met a tax they didn't like or hike.