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: Economics, Politics