Economic Dominoes

MANY factors contributed to George Bush’s defeat, but polls report that the economy played the biggest role. In the end, the Bush Presidency was destroyed by economic dominoes toppled by the Tax Reform Act of 1986. Ironically, this disastrous legislation was the work of Bush advisors James A. Baker III and Richard Darman, who were running the Treasury Department at that time.

Mr. Roberts, who was assistant secretary of the Treasury for economic policy in 1981-82, currently holds the William E. Simon chair at the Center for Strategic and International Studies.

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Paul Craig Roberts

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MANY factors contributed to George Bush’s defeat, but polls report that the economy played the biggest role. In the end, the Bush Presidency was destroyed by economic dominoes toppled by the Tax Reform Act of 1986. Ironically, this disastrous legislation was the work of Bush advisors James A. Baker III and Richard Darman, who were running the Treasury Department at that time.

Mr. Roberts, who was assistant secretary of the Treasury for economic policy in 1981-82, currently holds the William E. Simon chair at the Center for Strategic and International Studies.