Former supply-sider: Tax cuts wonâ€™t fix recession10/22/09 Robert Lorei
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Good Afternoon, welcome to Radioactivity. Iâ€™m Rob Lorei. In a moment weâ€™ll meet a former member of the Reagan and George H. W. Bush Administrations who has come out against Republican orthodoxy on tax cuts. He says tax cuts donâ€™t work as advertised by the Republican Party.
But first some listener comments about yesterdayâ€™s interview with Rod Stoneman, a film professor from Ireland who was the executive producer of the film The Revolution Will Not Be Televised, about the unsuccessful coup attempt in 2002 against Venezuelan President Hugo Chavez.
Our guest today is Bruce Bartlett, author of the new book The New American Economy: The Failure of Reaganomics and a New Way Forward.
Bartlett is an economic historian and one of the originators of Reaganomics. He is a former domestic policy advisor to President Ronald Reagan and a Treasury official under the first President Bush. He's also a former aide to Congressmen Ron Paul and Jack Kemp. In his new book Bartlett criticizes the conservative idea that supply-side economics and tax cuts are a way out of our current economic crisis. He says a return to Keynesian economics is the way out of what people are now calling the Great Recession.