Supply-Side Economics

When Ronald Reagan was President, he sometimes presented fiction as the truth. Fiction is sometimes presented as truth.

Roberts mentions that during Reagan’s reign the inflation rate was 4.7%. He doesn’t mention that it was coupled with severe unemployment. He mentions that the nation has grown wealthier. Yes, but only for the very wealthy. We enthroned the wealthy and throttled the poor. Eight million more persons fell to the poverty line. He doesn’t state what deregulation did to our economy.

Finally, Roberts states that Reagan earned our votes by fixing the economy. He certainly “fixed” the economy. Supply-side economics (voodoo economics) drove us from being fiscally solvent to being a debtor nation. Reagan’s ultimate legacy to us was a national debt of $2.7 trillion!

DON RADEMACHER

Los Angeles