Tuesday, January 03, 2012

Burying Reaganomics

Update: The myth of Raygun the Tax Cutter also gets whacked in this excerpt from 60 Minutes.
AnnabelPark | Eric Cantor and the Ghost of Reagan | Coffee Party
...The voice that breaks the fourth wall belongs to Cantor's press secretary, Brad Dayspring. After the interruption, 60 Minutes immediately cut to Reagan in 1982 announcing a tax raise and the need for compromise. It felt like Reagan conspired with CBS News to give Cantor and the House Republicans a good bonk on the head.
The ghost of Reagan stole the show and revealed the chasm that separates Reagan from Cantor. The biggest difference between Reagan and Cantor is that Reagan in regard to the national budget and the economy had the strength of character to do what was right for the country, instead of prioritizing his political reputation or image...

Facts are such inconvenient things for most Republicans. (Oh and thanks to Cannonfire for pointing the way to this piece. It's an oldie but goodie.)
The Myths of Reaganomics - Murray N. Rothbard - Mises Daily
I come to bury Reaganomics, not to praise it.
How well has Reaganomics achieved its own goals? Perhaps the best way of discovering those goals is to recall the heady days of Ronald Reagan's first campaign for the presidency, especially before his triumph at the Republican National Convention in 1980. In general terms, Reagan pledged to return, or advance, to a free market and to "get government off our backs..."

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