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Reagan called for a massive cut in government spending
Reagan's own vice-president, George H. W. Bush, referred to Reaganomics as "voodoo economics."
Reagan's own vice-president, George H. W. Bush, referred to Reaganomics as "voodoo economics."
Rothbard wrote:
*Specifically, Reagan called for a massive cut in government spending, an even more drastic cut in taxation (particularly the income tax), a balanced budget by 1984 (that wild-spender, Jimmy Carter you see, had raised the budget deficit to $74 billion a year, and this had to be eliminated), and a return to the gold standard, where money is supplied by the market rather than by government. In addition to a call for free markets domestically, Reagan affirmed his deep commitment to freedom of international trade. [http://www.mises.org/story/1544]