Custom Search

Friday, February 6, 2009

What Does Reagan Have to Say About Our Current Economic Crisis?


Well, nothing really because he is, unfortunately, no longer with us.  But, from James Pethokoukis, Reagan’s farewell speech speaks to us from the grave:

Common sense told us that when you put a big tax on something, the people will produce less of it. So, we cut the people's tax rates, and the people produced more than ever before. The economy bloomed like a plant that had been cut back and could now grow quicker and stronger. Our economic program brought about the longest peacetime expansion in our history: real family income up, the poverty rate down, entrepreneurship booming, and an explosion in research and new technology. We're exporting more than ever because American industry became more competitive and at the same time, we summoned the national will to knock down protectionist walls abroad instead of erecting them at home. ...

You can find the rest of the speech at the link above.

Technorati Tags: ,

No comments:

Post a Comment