He said he would cut taxes. Then he did it! He is to be commended.
History does not record it so. History is rather harsh on those that reduce government spending. He did it anyway.
Then, Paul Volcker had his way with the US economy. 20% prime interest rate... Slam! Down went the economy. David Stockman inflation adjusted cuts in spending vanished.... along with price inflation.
If you read school history books, if anything is explained at all, Volcker is the hero (stopping inflation that the central bank creates by print paper-money ont-of-thin-air).
David Stockman rarely gets even honorable mention for his steadfast quest to cut spending "cross the board." He succeeded... In nominal Dollars. He carried out his orders to cut Federal spending. He was undercut by the Fed.
Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul ☑
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