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Reaganomics Fail

It’s nice to see Rachel Maddow and Paul Krugman making the point that the major cause for the economic mess we are currently in is the last 30 years of Reaganomics. This recession/depression didn’t just happen. It’s not just another economic cycle. This is a direct result of deregulation of business, of tax cuts aimed mainly at the rich, and of the intentional degradation of government oversight agencies. All of which began in the Reagan administration and have continued virtually unabated since. Hopefully the Obama administration will get the economy back on track at some point — but that will be to no avail if we once again return to these failed policies. Supply side economics and laissez-faire government DO NOT WORK. It’s an economic fact of life. And Americans need to understand this, so it’s important that as we work our way out of this mess we continue to hammer home this point.