Even some of the architects of the “supply-side economics” theory, which later was embraced by Ronald Reagan, have to admit that conservatives who supported the GOP during the Bush years have lost all credibility and are ill placed to attack the Obama administration’s policies.
Bruce Bartlett, who helped develop supply-side economics while on the staff of Rep. Jack Kemp in the 1980s, explains:
I think conservative anger is misplaced. To a large extent, Obama is only cleaning up messes created by Bush. This is not to say Obama hasn’t made mistakes himself, but even they can be blamed on Bush insofar as Bush’s incompetence led to the election of a Democrat. If he had done half as good a job as most Republicans have talked themselves into believing he did, McCain would have won easily.
Conservative protesters should remember that the recession, which led to so many of the policies they oppose, is almost entirely the result of Bush’s policies. According to the National Bureau of Economic Research, the recession began in December 2007—long before Obama was even nominated. And the previous recession ended in November 2001, so the current recession cannot be blamed on cyclical forces that Bush inherited.
I never thought the day where I would find a Reagan enabler with whom I would agree would come. It has.