America is ill-served by supply-side system
Patrick Reddy’s May 19 Viewpoints article, “America is in trouble,” describing how our economy peaked between 1967 and 1973 and has been down-sliding ever since, was just short of spectacular. It’s really good to see a credible, objective discourse of how poorly the current supply-side system is serving our country. The only shortfall was his failure to mention President Abraham Lincoln’s view for nurturing and protecting American manufacturing and jobs by judicial use of tariffs.
This article helps debunk a pervasive linchpin for today’s economic view – those revered, fostered memories of President Ronald Reagan’s administration. Many fail to realize these memories are not from how things actually were, but from Reagan’s mastery of media and communication. Reagan and Rep. Jack Kemp loved unions. They were dominant officers in the Screen Actors Guild and AFL Players Association, respectively. Remuneration for their colleagues today is beyond the imagination. Worldwide entertainers flock to the trough. It’s only for others, unions are a dirty word.
Reagan was the pioneer of deficit spending, and his term was marked by a large exodus of American manufacturing jobs. One wonders, how is it possible for both political parties to continue foisting this failed supply-side scheme on the American people? The country cannot keep running on a media-promoted myth. Some of the worst misery in the 20th century was caused by the best communicators.
Louis L. Boehm