Why Obama Is Leaving the Reagan Era Behind When It Comes to Economic Policy
The lesson of Reaganomics, in other words, may be a simple one. In times of economic crisis, all roads seem to lead to the same place: deficits. The real test of a president and his economic policy, historians say, is what happens to those deficits when the economy recovers. For all of his many successes—and for all the support his ideas still enjoy on Capitol Hill—that is a test Reagan seems to have failed.
Reader Comments
taxes
At least Reagan understood the priority was to restore the economy. In his words, a country who is not strong economically, makes itself vulenrable in defense. Obama has completely missed that point and seems to be in la la land. He has no idea how increasing taxes will flatten the economy and seems to think that now is the right time to socialize medicine. He keeps adding all the tax money up to see how much more he can squeeze, while unemployment is skyrocketing. Don't you realize that the tax revenue you now receive is going to drop as unemployment increases and people no longer own homes? The solution is not higher taxes, it is lower taxes, and incidentally the two countries who have emerged from this recession (china and germany) did just that.
creative revision
There's so much missing from this article - but so little time to discuss.
Just to point out the most obvious - ever so conveniently ignored - was that Reagan had to deal with a huge democratic majority in the house and senate. The spending was driven by them - Reagon needed to work with the democrats to get what he really wanted. Just as Bill Clinton had to work with a strong republican majority during most of his years in office.
The author of this article is like most in the media today - both left and right- hiding being ideology.
Pathetic but unfortunately effictive strategy to rewrite history. Hopefully those in the middle will prevail.
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