President Obama's economic plans seem too similar to President Reagan's, a Democratic critic of the president charged Friday.Who knew Obamanomics was prepared to usher in yet another massive expansion of jobs and the economy, as Reaganomics did through the 1980s? I guess we ought to overlook Jackson's idiotic statement. I'd call him stupid but that would be racist or something.
Rep. Jesse Jackson Jr. (D-Ill.) criticized Obama's plan to extend all tax rates for two years as following in the vein of "Reaganomics," the free market-oriented policies sought by the GOP president when he was in office in the 1980s.
"If we recklessly cut taxes for the wealthiest 2 percent, then Obamanomics will look an awful lot like Reaganomics," Jackson said in a statement.
"I'm worried that the deal President Obama cut with Republicans sets us up for a Reagan-style set of bad choices," Jackson said, worrying that new tax cuts would empower a GOP-held House next year to pursue cuts to social programs.Of course nothing was cut during Reagan's presidency, as Democrats controlled the House and Senate. Jackson conveniently forgets our military buildup led to the fall of the Soviet Union, but why note anything of historical importance?
"That was President Reagan's strategy: a 'starve the beast' plan of lowered taxes and increased military spending that would force Congress to make deep cuts in programs for the most vulnerable," the Chicago Democrat added.