Comments and observations on social and political trends and events.

Thursday, April 20, 2017

Do You Want Reagan’s Economy or Obama’s? - WSJ

Do You Want Reagan’s Economy or Obama’s? - WSJ

When my wife and I get together with other couples of our age we almost inevitably end up talking about how our kids won't have the standard of living that we enjoy. We collectively shake our heads as though there is some mysterious malaise that dooms our economy to anemic growth and our kids to a bleak future of living with their parents. This article touches on the reasons I believe why the economy hasn't grown like it used to. I refer to the three Rs: revenue (i.e., taxes), regulations and redistribution. The combination of these three forces have throttled the engine of growth.

I know liberal critics of Reagan will point to the deficit spending and the military buildup of his presidency while conservatives and libertarians will point out that Reagan actually didn't reduce the size of government. He just slowed its rate of growth. Still, Reagan's overall approach and focus differ from Obama's.

For a much more detailed discussion of the malaise we're in see Our Miserable 21st Century by Nicholas Eberstadt in Commentary. Eberstadt doesn't specifically identify the causes of this misery but does catalog the symptoms and outcomes in depressing and disturbing detail.

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