I think this idea that has been has been spawned here in our country that inflation somehow came upon on us like a plague and therefore it’s uncontrollable. And no one can do anything about it is entirely spurious and it’s dangerous to say this to the people.
Since then, he has blamed to the people for inflation, OPEC, he has blamed the Federal Reserve system, he has blamed the lack of productivity of the American people, he has then accused the people of living too well and that we must share in scarcity, we must sacrifice and get used to doing with less. We don’t have inflation because the people are living too well. We have inflation because the government is living too well.
Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.
Today, if you invent a better mousetrap, the government comes along with a better mouse.
All great change in America begins at the dinner table.
To paraphrase Winston Churchill, I did not take the oath I have just taken with the intention of presiding over the dissolution of the world’s strongest economy.
Reagan 1984 coffee cup