No New Tax Cuts

A case for big government

The proximate cause of the financial crisis that has now engulfed the world and led to serious recession in the United States was the bursting of the housing bubble. But the true cause was the anti-government ideology that developed in the 1970s, solidified during the Reagan presidency, and was carried to extremes in recent years by Republicans and, to a significant degree, by Democrats as well. The nation’s economic and political health now depend not on substituting an old ideology for a new one, but on freedom from these ideological restraints and on the pragmatic, robust use of government.