Reagan's Top Economist Says GOP Misled the U.S. and Tanked the Economy

Reagan toastLost in the 24/7 news cycle has been a July 31, 2010 opinion-editorial by David Stockman, former director of the Office of Management and Budget under President Ronald Reagan. Stockman was closely tied to the development of the Reaganomics ideology, but now he points to massive failures by Republicans, while they were in power, to assure that financial accounts were balanced in government, international trade, on the ledgers of central banks and in the affairs of private businesses and households. Stockman excoriates modern Republicans, and particularly Senate Minority Leader Mitch McConnell, for claiming the party's current economic doctrines are rooted in traditional GOP financial philosophy. He points to a list of misguided Republican actions that have led the country to economic disaster: the runaway growth of public debt resulting "not from big spending by the Democrats, but instead the Republican Party's embrace ... of the insidious doctrine that deficits don't matter if they result from tax cuts," the neocon's sky-high inflation of the military budget, the "warfare state," the removal of traditional restrictions on leverage and speculation by the financial sector which led to a "vast, unproductive expansion of our financial sector," and the steady sending of jobs and production offshore. Stockman charges that Republicans have strayed so far from their ideological roots that they have "made a mockery of party ideals" and led the country into adopting policies that crippled the economy.


Where did you get that percentage? Is that the same 99% of people who won't post this as their status on Facebook?

All his information is easily verified, it's basically common knowledge at this point. Like, the sky is blue.

Your comments, although filled with undisputed facts, are bathed in the light of your own collectivism. Your strong opinions for one group do not look very good next to your facts. They do not strengthen their truths rather foster disbelief. The real problem you are trying to describe is that there needs to be a proper check and balance system not a blaming game. I could come up with the same amount of damning facts about FDR and smother it in lop sided ideals but that only starts a tug-o-war distraction from the erosion of the founding documents of individual liberty.

Do we as the People have a "checks and balance" system?

Last time I looked, not one Senator asked my opinion of what they are doing and my opinion doesn't matter only my vote counts when an election comes up for President.

Are you on Crack or some other drugs??

The Constitution was not written for us, the US citizens, it was crafted by over 30+ lawyers and it excluded women and slaves. And it's about what they are going to do in regards to forming Government.

FDR did have information about the attack before Dec. 7, 1941 as did George W. Bush about 9/11 weeks before it happened.

As a person who studied history particularly about California, Reagan did most of the things that were listed.

If Republicans are going to take the side of a bad President as Reagan was, then it shows how stupid their base is and has become.

btw, Reagan raised taxes over 11 times, ask his cabinet.

Here's a link you should study, fool.

For goodness' sake Mr Jefferson, this idealization of the founders is an even more useless distraction. If you can come up with a list of mistakes FDR made that are relevant to the modern world, please do so. We need to know where we're starting from to know where to go.

"Your comments, although filled with undisputed facts, are bathed in the light of your own collectivism."

Careful with that flowery language or they'll kick you out of the right wing.

"It's more cost efficient to just breed more, rather than provide health care, education, than to keep them alive, and educayshun makes em git uppity, git them idears,"

like some bizarre Matrix/Swamp People/The Apprentice/Deliverance mashup.