Alan K. Henderson's Weblog

HOME   |   BLOGGER PROFILE   |   BLOGROLL  MAP   |   HENDERSON  PRIZE   |   EMAIL

COMMENTS TEMPORARILY CLOSED - MIGRATING FROM HALOSCAN/ECHO TO DISQUS
Old comments migrated to Disqus, currently working outtechnical issues

Sunday, March 01, 2009

 
Limbaugh Speech At CPAC

Watch it at NewsBusters; it's divided into ten separate videos. Or read the full transcript at Rush's site.

I will nitpick one item in the speech. He said that tax cuts got us out of the 1980s recession. It is more accurate to state that tax cuts - specifically, the Economic Recovery Tax Act of 1981 and the Tax Equity and Fiscal Responsibility Act of 1982 (aka the Kemp-Roth tax cut) - accelerated recovery from the recession.

Recessions don't last forever in a mostly-free economy. Government can speed up or slow down recovery depending on whether it expands or contracts that existing freedom. Reagan chose policies that favored sooner over later.

It should be noted that the early 1980s recession was the unpleasant side effect of Paul Volcker's cure for the hyperinflation problem, following the prescription detailed in Milton Friedman's Free to Choose - see this post under the "Inflation" heading.

Labels: ,




Site Meter


Blogger