Obamanomics replaced by Reaganomics?

December 20, 2010

This Larry Kudlow commentary is a nice companion piece to my previous post:

In one fell swoop, Obamanomics is out the window. Reaganomics 2.0 is now in the driver’s seat. …  In the new session of Congress — which will feature a true Tea Party GOP conservative majority — new spending-limit policies can fill in the blanks left by the tax deal. But if President Obama has the acumen to see that a pro-growth economic policy is tied to low tax rates, the GOP should take great care not to cede that message and lose the economic-growth high ground. … A great battle will be joined over the spending, taxing, and regulatory mandates of Obamacare, which is probably the biggest job-killer of all. Conservative reformers in the new Congress will force this fight, along with tax, spending, entitlement, and monetary reform. Behind all this, however, the new Tea Party GOP must maintain a message of economic growth and prosperity.

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The next big battle must be over regulations. The public prefers lower taxes thanks to several years of debate. But regulations are less visible to the public, politicians use corporations as agents to impose them, and the public thinks corporations are responsible for them. This is Reaganomics 2.0.

Posted by wfl | Report as abusive