He embraced a conservative economic theory called "supply side," a belief that tax cuts would stimulate the economy and so pay for themselves. When it did not work out that way, Reagan explained that Democratic Congresses had been too timid in applying the concept.
Pardon me, but that's absolute bullshit. Revenues doubled during Reagan's turn ... Congress spent the money faster than it came in.
5 posted on 06/05/2004 3:40:30 PM PDT by Agnes Heep
(Solus cum sola non cogitabuntur orare pater noster)