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As soon as Clinton left office, the new Republican president and Congresses, thanks to their antitax fixation (and the war in Iraq two years later), promptly took us from a budget surplus equivalent to $365 billion to a budget deficit of $534 billion, a reckless and unnecessary trillion-dollar swing in three years. Irving Kristol, that mastermind and key promoter of remaking the political economy, had candidly announced this new strategy of the right—right-wing fiscal recklessness, forcing the left into defensive restraint—in a Wall Street Journal column back in 1980, months before Reagan’s ...more
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Evil Geniuses: The Unmaking of America
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