Historian Amity Shlaes compares Obamanomics to Reaganomics. According to Shlaes, the twin challenges of high unemployment and large fiscal deficits also faced President Reagan when he assumed office in 1981. Reagan’s approach to fighting the crisis was controversial: lower taxes while raising interest rates. His goal was to fuel economic growth without feeding inflation (i.e. grow with price stability). Dr. Shlaes argues that lower taxes helped the private sector “allocate resources where they were most efficient.” In her assessment, this laid the groundwork for strong growth and low inflation over the past two and a half decades (surely a debatable viewpoint). Lastly, Shlaes questions Obama’s fiscal stimulus, pump-priming (pause) program, which has increased the government’s role in the economy — whether or not this will be at the expense of private enterprise (so-called ‘crowding out’) has yet to be seen.