30 June 2010

Do Academic Historians Learn From History?

Some do, some don't.

"The Obama economic team ignored past history."

"The administration's stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible . . . The contrast with President Reagan's anti-recession and pro-growth measures in 1981 is striking. Reagan reduced marginal and corporate tax rates and slowed the growth of non-defense spending. Recovery began about a year later. After 18 months, the economy grew more than 9% and it continued to expand above trend rates."

More here from the WSJ. Progressivism unchecked.

Let's see if they'll admit their mistakes.

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