The Seven Fat Years, Robert L. Bartley’s defense of the Reagan years, pits entrep ren u ers against neo

The U.S. Chamber of Commerce, whose economists were virtually the only ones who accurately forecast the double-dip recession, also had better calculators than the news media and the Bush Administration. In testimony to the House Budget Committee on May 22, 1991, the Chamber’s vice president and chief economist, Richard Rahn, remarked, “Congress passed and the Administration signed into law the largest tax increase in the history of the United States as part of the Omnibus Budget Reconciliation Act of 1990.”

Beltway Arithmetic

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The U.S. Chamber of Commerce, whose economists were virtually the only ones who accurately forecast the double-dip recession, also had better calculators than the news media and the Bush Administration. In testimony to the House Budget Committee on May 22, 1991, the Chamber’s vice president and chief economist, Richard Rahn, remarked, “Congress passed and the Administration signed into law the largest tax increase in the history of the United States as part of the Omnibus Budget Reconciliation Act of 1990.”

Beltway Arithmetic