America’s current political and economic climate is not unlike conditions when Margaret Thatcher became British Prime Minister in 1979. It’s all there: high unemployment, sluggish growth, big government, and increasing regulation, especially in banking and healthcare.
And yet, besides helping to put an end to the cold war and bring down the Soviet Union, Thatcher somehow managed to execute a remarkable economic turnaround of the UK’s economy and standing as a world power.
Watching the news of her death, I was struck by the sharp contrast between Britain’s Iron Lady and President Obama. If it was her passion and her politics that brought the UK out of recession, then it’s no wonder why the policies of this administration are so ineffectual, to say the least.