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While running against Reagan for the Presidential nomination in 1980, George H. W. Bush had derided Reaganomics as "voodoo economics". [6] Similarly, in 1976, Gerald Ford had severely criticized Reagan's proposal to turn back a large part of the Federal budget to the states.
Criticizing his more conservative rival's policy proposals, Bush famously labeled Reagan's supply side–influenced plans for massive tax cuts as "voodoo economics". [105] Though he favored lower taxes, Bush feared that dramatic reductions in taxation would lead to deficits and, in turn, cause inflation. [106]
Criticizing his more conservative rival's policy proposals, Bush famously labeled Reagan's supply side-influenced plans for massive tax cuts as "voodoo economics". [20] Though he favored lower taxes, Bush feared that dramatic reductions in taxation would lead to deficits and, in turn, cause inflation. [21]
Reagan also called for a drastic cut in "big government" and pledged to deliver a balanced budget for the first time since 1969. In the primaries, Bush called Reagan's economic policy "voodoo economics" because it promised to lower taxes and increase revenues at the same time.
In the primaries, Bush famously called Reagan's economic policy "voodoo economics" because it promised to lower taxes and increase revenues at the same time. In his campaign speeches, Reagan presented his economic proposals as a return to free enterprise principles, a free market economy that had been in favor before the Great Depression and ...
This past week, the United States Justice Department released four memos showing that its lawyers approved of the Central Intelligence Agency's use of "enhanced interrogation" techniques.
One man said NEST felt like Ronald Reagan era trickle-down economics, which his former political rival and eventual Vice President George H.W. Bush once called "voodoo economics."
During the 1980 Republican Party presidential primaries, George H. W. Bush had derided Reagan's economic approach as "voodoo economics". [ 23 ] [ 24 ] Following Reagan's election, the "trickle-down" reached wide circulation with the publication of "The Education of David Stockman" a December 1981 interview of Reagan's incoming Office of ...