Reaganomics won US Lost

Alexander Hamilton’s 1791 report to Congress on manufacturers. Hamilton laid out this six-step plan to build an industrial economy in the United States. And, we followed it. Congress actually put it into place in 1792 and it stood until Ronald Reagan came along and started deconstructing this, followed by George Herbert Walker Bush, Bill Clinton and George Bush, now, and the legislatures, mostly pushed by the Republicans, taking this thing apart. I mean, you could argue that some it started with Taft-Hartley. But, basically, the Founders laid this thing out; they had it figured out. And, it worked. We built the biggest industrial infrastructure, industrial economy in the world. We have gone—when Reagan came into office we were the largest exporter of manufacturing goods and the largest importer of raw materials on the planet. And, the largest creditor—more people owed us money than anybody else in the world. Now, just 28 years later, we’re the largest importer of finished goods, manufactured goods; the largest exporter of raw materials—which is kind of the definition of a third-world nation—and we’re the most in-debt of any country in the world. This is the absolute consequence of Reaganomics.

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