Im A Supply Sider Says Bush - Road to the Middle Class

THANKS GOODNESS we can finally report that Bush is not in denial. Yes, before a tough, hard-nosed audience of the nation’s top reporters, he finally admitted it, as the New York Sun reports.

“I am a Supply-Sider,” he said.

"We did it by cutting taxes. The tax cuts worked. The economy recovered. People are working. Interest rates are low." And then he said, in what will become a famous sentence, "I am a supply-sider." He said he believed that "supply-side economics, when properly instituted, enables us to achieve certain objectives."

What objectives were you thinking about, Mr. President? I’m glad you asked that. How about

"people finding work" and "hope in the economy" and "additional tax revenues."

That’s pretty brave of the president, considering that “everyone” now agrees with Jonathan Chait and his new book The Big Con: The True Story of How Washington Got Hoodwinked and Hijacked by Crackpot Economics.

It’s understandable that liberals don’t like supply-side economics. It says that the key to prosperity is ordinary people working and starting businesses under a regime of stable property relations and low marginal tax rates.

Not a word about subsidies, tax the rich, and government programs.

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Christopher Chantrill blogs at www.roadtothemiddleclass.com. His Road to the Middle Class is forthcoming.

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