The Neo Conservatives were a socialist faction of the Democratic party that switched parties in the 1960’s. They were opposed to the left’s protests against US involvement in the Vietnam War and perceived weakness against the Soviet Union.
Reaganomics, the economics of the Neo Conservative faction of the Republican party, increased defense spending, slowed the growth of government spending, reduced the federal income tax and capital gains tax, reduced government regulation, provided tax breaks to big business and tightened the money supply in order to reduce inflation. This was called “Trickle Down Economics.” Neo Cons touted their methods as a way to reduce the national debt.
The results were a widening income gap, reduced economic mobility, declining real median wages, and the national debt tripling in eight years which ultimately reversed the post-World War II trend of a shrinking national debt as percentage of GDP.
To hear the Republicans tell the story, it was the fault of the democrats the national debt rose to it’s new heights. The only presidential administration able to get deficit spending under control was Bill Clinton’s. His surplus would have allowed the United States to begin paying down the debt. Within a year of George Bush Jr’s presidency the US was back in deficit spending.
President for Life hopeful Donald Trump ran as the “anti” Neo Con republican. His sales pitch was to get the debt under control. That didn’t happen. How does Trump’s budget agenda compare to that of the Neo Cons?
Trumpanomics and Reaganomics are exactly the same. Reduce taxes on the wealthy and large corporations, do not increase income taxes, increase military expenditures, deregulate industry and shrink the federal government.
Reagan was the first to propose “free trade,” dropping tariffs and opening the doors to world wide economic cooperation. However,
Strict libertarians and ardent free traders have long criticized Reagan for what they perceived as hypocrisy on trade, as he instigated or signed off on numerous protectionist measures throughout his presidency, starting with his first months in office in 1981 Civitas Institute
The tendency to say one thing and do another is another trait they share. Maybe they had the same man gods as economic advisors. From yesterday’s post destroying a nation’s economy is a way to make it ripe for revolution.
Katsura Taro (4 January 1848 – 10 October 1913) was an Imperial Army General and Prime Minister of Japan. He was born into a Samurai family and took part in the Boshin War of 1868 that restored the Meiji Dynasty.
Showing great potential as a military leader the Meiji government sent Katsura to Germany as a military attache. After two terms he was promoted to Major General and became the Vice Minister of War. He led a division in the First Sino-Japanese War and received the title of shishaku (viscount).
As Prime Minister he oversaw the alliance with Great Britain during the Japanese Russo War that elevated Japan to the status of a world power. The peace treaty (Treaty of Portsmouth) was not popular with the Japanese public. Although Japan was able to annex Korea and gained mining and port concessions in southern China, the people felt the government should not have signed due to the string of Japanese victories. It caused the downfall of Katsura’s government.
His second appointment of Prime Minister was also unpopular. The country invested in military development it could barely afford. Many felt Katsura elevated the interests of the military over the citizenry. He again resigned and received an appointment of kōshaku (prince).
Katsura’s third appointment lasted 2 months. Riots began in Japan by people believing his reception of the post was an effort by the genro (royalty) to end the Meiji Constitutional government. He died of stomach cancer 8 months later.
Irving Kristol (January 22, 1920 – September 18, 2009) was an American journalist considered the brain father of neo-conservatism. He received a BA in History from the City College of New York where he was a member of the Young People’s Socialist League (later the New York Intellectuals) as a Trotskyist. He was also associated with the Congress for Cultural Freedom, an anti-Communist CIA organization active in 35 countries.
A wise man once told me “If I want you to go to the left, I will shove you as hard as I can to the right, then you will overcompensate.”
The Neo Con movement began with a political defection from the left to the Republican Party by those who were disaffected by the anti-Vietnam movement and political radicalism. The movement emphasized traditional religious values and dangerously unregulated economic policies with catchy names like “trickle down.”
Kristol died of lung cancer in 2009.