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Brunell: People helping people

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category icon Business, Columns, Opinion

In November 1982, our state’s unemployment rate peaked at 12.2 percent, the highest since the Great Depression. Interest on a fixed rate home loan was 13.4 percent, and an 11.5 inflation rate burned through our checkbooks. The economy was a mess.

The impacts of President Ronald Reagan’s Economic Recovery Tax Act of 1981 hadn’t fully kicked in yet, and Gov. John Spellman (R) and the Legislature had repeatedly increased taxes and cut programs to balance the state’s budget.

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