By Ron Lowe Santa Monica
A few months ago all the Republican presidential candidates were claiming to be the reincarnation of Ronald Reagan! Ronald Reagan must be tossing and turning in his grave.
From a speech given by Reagan, Nov. 14, 1974: “Continual deficit financing, year in and year out, is not the path to prosperity. It is the road to national bankruptcy. It is a self-fulfilling prophecy because the more the government goes into debt, the more it must borrow.”
And that is exactly where we find ourselves today after years of Bush and Republican deficit spending.
Originally published in the Santa Monica Daily Press print edition on July 18, 2008. Read the original PDF.