There They Go Again

‘NO ONE would want us to go back to the days when the deficit was exploding and our economy was going downhill,” President Bill Clinton recently told a sparsely attended rally in Detroit. This was Clinton’s rebuttal to House Minority Whip Newt Gingrich’s Contract with America, which includes Reagan style across-the-board tax cuts, a balanced budget amendment, term limits, congressional reforms, and some defense spending. Laura Tyson, chairwoman of the President’s Council of Economic Advisors, has labeled Gingrich’s package “Voodoo Two,” while White House Chief of Staff Leon Panetta reminds us that during the Eighties the rich got richer and the country verged on bankruptcy.

Mr. Kudlow is NR’s economics editor.

About the Author

Larry Kudlow

Larry Kudlow is the author of JFK and the Reagan Revolution: A Secret History of American Prosperity, written with Brian Domitrovic.

‘NO ONE would want us to go back to the days when the deficit was exploding and our economy was going downhill,” President Bill Clinton recently told a sparsely attended rally in Detroit. This was Clinton’s rebuttal to House Minority Whip Newt Gingrich’s Contract with America, which includes Reagan style across-the-board tax cuts, a balanced budget amendment, term limits, congressional reforms, and some defense spending. Laura Tyson, chairwoman of the President’s Council of Economic Advisors, has labeled Gingrich’s package “Voodoo Two,” while White House Chief of Staff Leon Panetta reminds us that during the Eighties the rich got richer and the country verged on bankruptcy.

Mr. Kudlow is NR’s economics editor.