How Do We Get Rid Of the Reagan Myth?

Seriously, you didn't think the myth of Ronald Reagan would be wiped away in one election cycle, did you? Over the last decade and especially in last few years, we've the living proof that the distorted legacy of the 40th president - which has morphed with the help of right-wing activists like Grover Norquist into a dangerous philosophy that I call Reaganism - is hurting America on every front. We've seen a government that Reagan called "the problem" fail to protect its citizens from the floods of Hurricane Katrina, from a bridge collapse in Minneapolis or from the scams of Bernie Madoff or the Wall Street greed that crashed a global economy. We've also misinterpreted the Gipper's foreign policy - using a phony "Evil empire" bravado to justify badly conceived policies in the Middle East - and still believe in the magic of his "voodoo economics" that turned America into the world's' greatest debtor.
In fact, there were moments when I was working on my new book - "Tear Down This Myth: How the Reagan Legacy Has Distorted Our Politics and Haunts Our Future," published this month by Simon & Schuster's Free Press - when I wondered whether a Barack Obama victory and a Democratic Congress would mean a sea change in our politics that would slay the dominance of Reaganism forever. I didn't need to worry about that. An obstructionist-minded GOP minority with a lingering ability to block or influence legislation in the Senate and a Beltway Gang of 500 that thinks that "Glory Days" and 1980s means more than just a Springsteen song are keeping the flame of the Reagan myth alive. And that may well threaten the very measures - a massive government role in job creation, a possible temporary nationalization of insolvent money-center banks - that are needed to keep America and the world out of Great Depression II.
In a nation about to hurdle right past $10 trillion in debt, with a gap between the rich and poor that resembles the robber-baron era of the late 19th Century, and with a collapsing infrastructure, Republicans continue to push an economic agenda with three elements: Tax cuts, tax cuts and more tax cuts, preferably tilted toward corporations or toward levies that tend to impact the wealthy, such as capital gains or the inheritance tax
The epitome of this approach was a 2003 plan backed by Reagan disciple George W. Bush and the then-GOP majority in Congress that cut taxes during wartime for the first time in American history; the House Budget Committee chairman at that time, Republican Jim Nussle of Iowa, explained that Reagan authored "the basic playbook" for the modern GOP, and "that is the playbook that I follow today." In the current debate over President Obama's economic stimulus bill, this is how South Carolina Sen. Jim DeMint responded: "It's incredible that he said that. It's clear that whether it's John Kennedy or Ronald Reagan or when Bush did this in 2001 and 2003, the economy came out of recession." But the evidence for that argument just isn't there.
Yet the Reagan myth is hard to topple - some of the credit, or blame, belongs to Grover Norquist's Ronald Reagan Legacy Project, which was created in 1997 and has been amazingly successful in renaming roads, post offices, medical centers and airports for the Gipper across both red and blue America, etching his now-iconic image into the political wiring of a generation of voters that was watching the Smurfs when the real Reagan doddered through the Iran-Contra scandal.
So my question for America - and for some of the great minds planning to show up for this discussion this week - is quite simply this: How do we ever get back to the reality-based Ronald Reagan, so that we can focus more clearly on today's problems that are quite often rooted in the warped Reaganism of Bush, Norquist, Dick "Reagan proved that deficits don't matter" Cheney, and others? How do we impress on our political leaders that Reagan's best qualities as a leader weren't "tear down this wall" rigidity but his willingness finally to talk with our adversaries in the Kremlin in pursuit of peace. And how do we convince our chattering classes that Reagan's tax cuts didn't save the American economy, and that our greatest boom times came from undoing Reaganomics over the course of the 1990s. This is how - to quote from the title of the book - the Reagan legacy "haunts our future." No one should ever re-write history. But right now, America's view of modern reality needs a massive correction.

















Deficits don't matter -- at least deficits of less than 5-6% of GDP -- and for liberals to claim that they do is to forget our own history.
The fact that Reagan, our nemesis, "proved it" shouldn't prevent us from demanding a current deficit as a response to the deflationary spiral we're heading into of 10-15% of GDP -- or more.
February 16, 2009 12:53 PM | Reply | Permalink
"Deficits don't matter."
Well, in the long run (I know my Keynes "In the long run we're all dead"), in spite of what Dick Cheney said about what Reagan proved, they do matter. I would agree, in the short run (until we get out of this mess), we can't worry about the deficit.
February 17, 2009 7:22 PM | Reply | Permalink
Nonsense.
We halted more "Reaganomics" in 1987, then took a small step back towards fiscal sanity when we began raising taxes again when Bush Sr. finally broke with voodoo economics and stopped reading his lips when we passed some small taxes. The, in 1993, without any GOP votes, the Democratic Congress increased taxes and within 2 years we had the longest largest sustained growth of our economy in our nations history.
You are simply talking out your ass like you do when you keep pushing the myth that the New Deal and massive government spending in the run-up to, didn't get out out of the depression.
February 20, 2009 9:46 PM | Reply | Permalink
We ought to start with an Obama Executive Order renaming everything in American that was sullied with the name of that pathetic old drooler. Make him an unperson.
February 16, 2009 12:53 PM | Reply | Permalink
I'd like to see the National Airport renamed back to the National Airport. I believe there must be a wastewater treatment plant in the area that can be named for Ray-guns.
February 16, 2009 12:57 PM | Reply | Permalink
Public bathroom facility?
February 16, 2009 1:02 PM | Reply | Permalink
Great idea!
February 17, 2009 7:23 PM | Reply | Permalink
Will Bunch's closing paragraph above poses the challenge well. John Patrick Diggins' unlikely, flawed book on Reagan a couple of years ago
prompted me to try to untangle some of the strands Will mentions. I argue that Reagan, unwittingly, was trying to give the American republic a glorious euthanasia by embalming its necessary civic-republican strengths in nostalgia at the same time when corporate capitalism was asphyxiating them:
http://www.bfslattery.com/pdfs/Sleeper.pdf
February 16, 2009 1:10 PM | Reply | Permalink
It is the late John Patrick Diggins, Douglas Brinkley, and John Gaddis that have elevated Reagan's undeserved reputation. All three of these scholars claim that Reagan ended the Cold War but they do not looked into the Russian archives to find out if this was the case. Scholars such as Vladislav Zubok and Archie Brown, who have studied Soviet politics, have concluded that Reagan had nothing to do with ending the Cold War and it was mainly Gorbachev alone that was reponsible for dismantling the Communist system in Eastern Europe and the Soviet Union.
February 16, 2009 5:04 PM | Reply | Permalink
One of Reagan's notable contributions was appointing Alan Greenspan to Chair the Federal Reserve during August 1987.
In the recent CNBC "House of Cards" program, Greenspan said:
“If we tried to suppress the expansion of the subprime market, do you think that would have gone over very well with the Congress? When it looked as though we were dealing with a major increase in home ownership, which is of unquestioned value to this society — would we have been able to do that? I doubt it.”
In two sentences Greenspan:
- belittles the political independence of the Federal Reserve,
- abrogates the Federal Reserve's role in "taking away the punchbowl just when the party is getting started", and
- perpetuates the fraud that putting people into homes that they can't afford with no-money-down mortgages constitutes "home ownership" that is of value to society.
February 16, 2009 5:30 PM | Reply | Permalink
I've never been sure where regulators like Gramlich (warned Greenspan of subprime lenders' dubious practices in 2000) or Sheila Bair (planned to but didn't develop "best practices" for subprime lending industry) placed their emphasis.
Protecting subprime borrowers from themselves and preventing them from participating in a rising real estate market would have had, as Greenspan points out, little support in Congress.
Nor is the Fed set up to investigate "fog the mirror" fraud.
On what date was it that the "subprime crisis" brought down Lehman and cost us $130+ billion to "save" AIG? It was much more the packaging of the product and much less the quality of that product that got us into the trouble were in now.
Just as kissing a frog doesn't turn him into a prince, repackaging him doesn't turn him into a prince either. Warren Buffett, sort of.
February 16, 2009 8:11 PM | Reply | Permalink
Ellen are those bolds meant to be links?
February 16, 2009 8:45 PM | Reply | Permalink
Ronald Reagan blew out the federal deficit worse than any other president in the post-war period. That is his legacy: eternal debt.
February 16, 2009 9:22 PM | Reply | Permalink
Wasn't it under Reagan that we became, for the first time, a debtor nation instead of a creditor nation?
February 17, 2009 3:09 PM | Reply | Permalink
How is Reagan's legacy not entirely defined by Iran-Contra? I think it's odd that in this discussion both his critics and defenders have entirely avoided that defining issue.
February 17, 2009 3:11 PM | Reply | Permalink
iirc, this was the initial offering of the Republican 'executive strategy, whereby Reagan was the figurehead executive, yet it was known (or made known) that he was already in the early stages of Alzheimers, so he could be forgiven by not knowing what his underlings were doing. imo, Iran-Contra was the bad seed that bore the fruits of the Bush administration, once the perps got to walk, and the whole mess was swept under the rug.
I don't think Reagan's legacy can entirely be defined by IC--don't forget the class warfare against 'welfare queens driving Cadillacs' which eviscerated the social safety net, the official denial of AIDS, and the ramping up of the corrupt and ineffectual 'War on Drugs'-- which leads us right back to IC!
February 17, 2009 5:48 PM | Reply | Permalink
"We halted more "Reaganomics" in 1987, then took a small step back towards fiscal sanity when we began raising taxes again when Bush Sr. finally broke with voodoo economics and stopped reading his lips when we passed some small taxes. The, in 1993, without any GOP votes, the Democratic Congress increased taxes and within 2 years we had the longest largest sustained growth of our economy in our nations history."
the changes Reagan made in tax policy carried us through 2 tax increases to make the longest time of growth. We came out of these tax increases from the George HW Bush and the Clinton regimes with small recessions that were further carried by the Reagan tax cuts.
Remember that deficits come from over spending not under taxing. REVENUES EXPLODED UNDER THE TAX CUTS MADE BY REAGAN!!!!!!!!!!!!!!!!
Unfortunately he couldn't control spending enough and that is the problem we have had forever. We've had big spenders in the white house since, but we have just elected the master. Lord help us all.
February 28, 2009 10:48 AM | Reply | Permalink