Former Reagan Aide Admits Addictions : People: Economist and Wall Street star Larry Kudlow says he’s recovering. He was a leading proponent of ‘supply-side’ economics.

Larry Kudlow, whose meteoric Wall Street career led to a post as adviser to President Ronald Reagan, now admits he’s a recovering alcoholic and drug addict.

The conservative economist says he’s been sober for more than a year.

Getting high helped him deal with work demands, he told the New York Times.

“You think you’re a superman, you think you can do anything,” Kudlow said in a story published Sunday. “I felt invincible and that there were no limits as to how late I could stay up or how much I could travel. Today, I see how tough it was.”

Kudlow, 46, was the strategist behind the tax-cut plan that helped propel Christie Whitman to an upset victory in the New Jersey governor’s race last year. He advises other Republicans such as Jack Kemp and Rush Limbaugh.

After Reagan was elected in 1980, Kudlow was named chief economist at the Office of Management and Budget under David Stockman. He was a leading proponent of “supply-side economics”--tax cuts aimed at stimulating economic growth.

He said he began drinking regularly in the late 1970s and then began using illegal drugs, which he wouldn’t name.

Fifteen months ago he took time off work from his Wall Street job to enter a drug rehabilitation program. He attends a program for recovering addicts as often as twice a day, and he fears a relapse.

“I live my life day to day,” he said tearfully.

Now working for National Review magazine, the former Wall Street whiz has been touted as a potential U.S. Senate candidate or Cabinet member if a conservative like Kemp were elected president.

His aspirations are on hold, but he’s not ruling out a political career.

“In our society there are a lot of people who have suffered from alcohol or substance abuse--you name it--and society has been understanding,” he said.