Reagan's Top Economist Says GOP Misled the U.S. and Tanked the Economy

Reagan toastLost in the 24/7 news cycle has been a July 31, 2010 opinion-editorial by David Stockman, former director of the Office of Management and Budget under President Ronald Reagan. Stockman was closely tied to the development of the Reaganomics ideology, but now he points to massive failures by Republicans, while they were in power, to assure that financial accounts were balanced in government, international trade, on the ledgers of central banks and in the affairs of private businesses and households. Stockman excoriates modern Republicans, and particularly Senate Minority Leader Mitch McConnell, for claiming the party's current economic doctrines are rooted in traditional GOP financial philosophy. He points to a list of misguided Republican actions that have led the country to economic disaster: the runaway growth of public debt resulting "not from big spending by the Democrats, but instead the Republican Party's embrace ... of the insidious doctrine that deficits don't matter if they result from tax cuts," the neocon's sky-high inflation of the military budget, the "warfare state," the removal of traditional restrictions on leverage and speculation by the financial sector which led to a "vast, unproductive expansion of our financial sector," and the steady sending of jobs and production offshore. Stockman charges that Republicans have strayed so far from their ideological roots that they have "made a mockery of party ideals" and led the country into adopting policies that crippled the economy.


Unfortunately, it's single minded blame such as this that is the problem. There is no accountability left in politics. Politicians are to busy blaming each other and instead should be working together to come up with strong solutions that will get the economy back on track and start reducing our massive deficit. Stop passing bills stuffed full of pork.

The problem with this comment about politicians blaming each other is David stockman is not a politician. He is an economist who was one of the architects of Reaganomics, and who has the valid perspective to be able to criticize Republican policies. Stockman knows what he is talking about, and his position is that current GOP economic policies are all wrong!

I have a feeling you are only agreeing with him because he himself who helped develop Reagan's economic policies is saying that the "republicans" were wrong in their direction for so many years. Most people will agree with anything as long as it promotes their way of thinking where as if this man were to say that the republicans were right all along in their direction with Reagan's policies you would instead be criticizing him or name calling as many uninformed individuals who like to argue politics like to do. (Not implying that you are uniformed sir) I am simply tired of politicians make laws what are ridiculous or adding policies that have nothing to do with the problems at hand. I agree there is no accountability in politics anymore and it is sad that I hardly can recognize America anymore. It is all about power no and blaming the "bad guy." I wish people would do more research themselves and not just believe what the mass media tells them to believe. Lets start thinking for ourselves and not just supporting whatever politician says is "good" for us because I doubt they know what is better for me when they have their own health and retirement plans while they make legislation on social security and and taxes that they don't even pay into. That seems wrong to me. We should not punish the rich for working hard and earning the rewards of their hard work and sacrifice. We should help the poor and less fortunate out of the kindness of our hearts not because the government makes us. It is not the governments job to fix the economic or provide healthcare. They government only gets involved in the economy in times of war the last being WWII and then they never left which is why they continued to regulate until we have the mess we have today. I think it is both sides fault both right, left, far right and far left. If they didn't do it then they didn't prevent it either. I love this country and I want to have the chance to achieve the American dream which I feel is slowly becoming impossible. And so I pray.

People will take care of people, churches will take care of people and out of the kindness of our hearts not because the fed gets to take their cut and trickle a tiny bit down to those who "need" it (most of them do not). God forbid we make someone feel uncomfortable for wanting to be lazy and not get up and get a job. I had to move hundreds of miles from my home and then another several hundred miles again, because I wanted to? No because there are jobs and people need to just be willing to go where they are.

Also the reason there is no middle class is because of the fact that anyone on welfare or public assistance has all of the amenities that I live with being a hard working person. They have flat screen tv's, smart phones, high speed Internet, cable tv. Think about how it was years ago when our economy was booming... People that were poor because they choose not to work, well they lived like poor people. They lived in houses with dirt floors and no electricity. There is no motivation for people to do anything more than sit home and collect as much in assistance as I make working an honest job.

Ok, I am done now thanks for listening!

A New Economic Philosophy with a Human Face
(MY Contribution to MY People of MY Planet)

(1). Economy :
Happiness of the people is the real economy of a nation and all other things are traps.

(2). Economics :
The mechanism that makes the people happy is called economics.

(3). Misapprehensions :
GDP, Forex, Sensex and Inflation are not elements of economy; therefore they cannot measure the economy of a nation.

(4). Inflation :
Inflation is the market-exaggerated-disproportion in the production, distribution and consumption of goods, services and wealth. Therefore, this planning-sensitive element is not a relevant parameter for effective assessment of the economy of a nation since the imbalances disappear either by planting preventive measures or timely corrective actions or permanently installed system-controls for timely actuation of precisely installed regulators.

(5). Economist:
Agriculture is the epicentre of economy, thus, no nation can survive if its farmer is suffering since agriculture and the mechanics of economics are the two reactants rigidly controlling and producing the final product generally being referred to as “Economy”, which too, is directly proportional to the speed at which a nation moves its men, material and money and, is accurately measurable for specifying its index by an economist who has sensibly blended fundamentals with commonsense and constantly qualifying himself as a precise tool for the intended job.

(6). Numbers & Digits:
Economists not isolating economy and economics from numbers and digits are destroying their nations.

(7). Economic policies:
Evaluate first, then adopt and finally adapt since economics is a subjective subject with objectives subjective and role-sensitive.

(8). Wealth:
Wealth can neither be created nor destroyed, but it transforms into several forms and possesses enormous potential to alter the dynamics of economics, its misplacement or displacement causes proportionate degree of imbalances in the economy of the nation.

(9). Money:
Money accumulation does not mean wealth acquisition since money seldom measures the strength of a nation or individual, more so, yellow metal.

(10). Real asset value of a nation:
Money in circulation is the real asset value of a nation since it is the only asset working for the nation, hence, the higher the better.

(11). Cooperation:
Cooperation is the orthocentre of economy and is directly proportional to the need and inversely proportional to the greed of the nations. Nations necessarily viewing cooperation as basic necessity become all-time rich.

(12). Bedrocks of economic growth:
Fair play, benefit-balancing and cooperation are the keystones that accelerate economic growth - destroying them is destroying nations.

(13). Governance:
Business is not the business of the government. Therefore, nations must not involve in any commercial activity since their only business is governance, policy making, administration, safety and security of the people, food and health security, draught and flood control, conservation of wildlife and forests, pollution and inflation control, infrastructure development, environmental protection, public service, standardization, rationalization and simplification of rules, regulations and procedures.

(14). Farmer’s Role:
Politicians in power seldom comeback to power by ignoring farmer, politicians aspiring power seldom come to power by ignoring farmer, political parties ignoring farmer do not survive.

(15). Present status of economics:
Economics became Agonymics since politicians removed economics from social science and merged it with power politics to suit their convenience. Therefore, economics no more deals with production, distribution and consumption of goods, services and wealth.

(16). Mystery of Economics:
Unlike science, engineering and mathematics – economics can be poured into any vessel of any shape and size. This is the fluidity of this volatile subject and the same is the complexity too, thus, the so-called turbulence.

(17). Invasion:
Politicians invaded the theory & principles of economy and economics, therefore, these vital topics are no more understandable.

(18). Poverty Allotment:
Politicians reserved poverty for the poor and prosperity for themselves.

(19). Poverty Alleviation:
Poverty alleviation elevated politicians and eliminated the poor.

(20). Cost of Nothing:
Nothing is free in this world since everything comes from nothing.
Nothing is free in this world though everything comes from nothing.

(21). Cost of Price:
Since everything comes from nothing, the initial cost of everything is zero, as the value adds up, so does the price.

(22). Nation’s Health:
Wealth is not a measure of nation’s health.

(23). Speed Means Growth:
The economic growth of a nation is directly proportional to the speed at which the nation moves its men, material and money. However, safety and cost-effectiveness are vital considerations.

(24). Wear:
Wear is the single largest employer of our on earth. Also, it is the biggest controller of economy and economics of our world.

(25). Remuneration:
The more you give, the more you get – both remuneration and satisfaction.

(26). Nature (The Greatest Teacher on Earth):
Nations adopting nature’s laws become healthy.

(27). Global Peace Pill:
Do not do for others what you do not want others to do for you.

Adopt “LoveAll-HateNone“philosophy originated from Humanity, therefore Humanity is the essence of all religions, faiths and philosophies of our acquisitive world.

Most importantly, for all those who believe in God, Humanity is the visible form of God.

There is God in everyone; we need eyes to see Him.

We acquire everything only to carry nothing.

A true religious mind knows no religion since GOD knows no religion.

No one is bad since everyone belongs to God.

We ask what we want, God gives what we need.

Laws not built on humanity do not last longer.

There is God within, we need humanity to see Him.

(28). Need of the hour:
Sow humanity and reap peace. Sow peace and reap progress. Sow progress and reap prosperity. Sow prosperity and reap endless happiness.

Therefore - Humanity is my caste, Humanity is my community, Humanity is my religion, Humanity is my creed, Humanity is my race, Humanity is my tribe, Humanity is my region, Humanity is my nationality, Humanity is my language, Humanity is my mother-tongue, Humanity is my consideration, Humanity is my philosophy, Humanity is my approach and Humanity is my way of life. Finally, Humanity is my whole world.

(29). Inseparables:
Pain and gain, body and soul, day and night, light and heat, noise and vibration are inseparables. Therefore, do not waste time for this.

(30). Inevitables:
Failure and success are like day and night, ignore them and strive for stability.

(31). Source of failure:
At times we fail, at all other times we are failed.

(32). Statics and Dynamics:
Be dynamic since nothing on earth is static, including earth.

(33). Cause & Cure of Death:
Death means unwillingness to change.

(34). Acquisitions:
Balance your acquisitions since no one can carry anything.

(35). Hiring tasks:
Qualification seldom qualifies anyone for employment, percentage of marks does not mean merit, age does not mean maturity, experience does not mean knowledge, talent does not mean wisdom, sincerity does not mean creativity, drive does not mean determination, motivation does not mean innovation and honesty does not mean productivity and outspokenness does not mean output.

Therefore, employers must develop exacting tools to measure performance and creativity essential to assess usefulness and wage-worthiness. Individuals, Institutions and nations ignoring these facts end up in recruiting non-contributors and non-performers.

(36). Change:
Only a change can change a change and change alone can challenge a change along with the inevitable uncertainties associated with every change. These are the real challenges of life for the present and future generations.

(37). Uncertainties:
Uncertainty is more certain and more inevitable than the most inevitable change and challenges.

Thus, entrepreneurs must be more vigilant than never before since emerging technologies demanding abrupt changes need abnormal potential to absorb changes and challenges associated.

(38). Measure-worthy elements of a person:
Money, power, position, popularity, personality, qualification, experience and age of a person are not measure-worthy since performance and contribution alone matters.

(39). Science:
So far, science has miserably failed to understand the nature, its secrets and several things happening around. For reasons best known to all concerned, man-made tools like science, engineering and technology continue to fail forever, in spite of this hard reality, we must continue respect science since it carries the entire essential potential essential to add sweetness and flavour essential to make life worth living and enjoyable.

This fact is nothing but truth. Therefore, let us go along with the nature as thoughtfully did by the wisest and the most knowledgeable ancient people of our planet.

(40). Cost of selfishness:
Sun sets only on selfish.

(41). Source of smiles:
Good people give smiles, other give tears.

(42). Copying risks:
Neither individuals nor institutions nor nations become leaders by following or copying the other, therefore, make laws, rules and regulations relevant to the nation since the needs, problems, priorities and culture of different nations are different.

(43). Success:
Success seldom comes by following or copying or imitating, this analogy is true for individuals, institutions and nations.

(44). Heroism:
Genuine leaders follow heroism and seldom choose beaten tracks.

(45). Life:
Life is uncertain because death is certain.

(46). Friendship:
The most valuable and least respected commodity on earth is friendship, whereas, the least valuable and most respected commodity on earth is money.

(47). Longevity:
Those who live more, suffer more.

(48). Earning:
We earn more only to live less.

(49). Eating:
We eat more only to live less.

(50). Strength & Stamina:
God gave strength to men and stamina to women.

(51). Truth:
We seldom seek truth since we are comfortable with facts.

(52). Facts:
Facts are partial truths.

(53). Lies:
We talk lies to live less.

(54). Disagreement:
People of earth are fighting for an invisible GOD common for all.

(55). God:
God is universal, so, He is not different for different people.

If God is different for different people, HE is no more a God.

(56). Ideas:
Ideas are more valuable than ideologists since every idea is a spontaneous overflow of powerful thinking and carries the potential to change the world.

(57). Greetings:
God seldom greets us because we are greedy.

(58). Rules:
If rules are not simpler, bitter will be the result.

(59). Food:
Agriculture gives food, arms give blood.

(60). Birth:
We take birth only to pursue death.

The way we live, the way we die.

Birth causes pain, death relieves pain.

Birth and death are accidental since life is incidental.

(61). Decisions:
Woman knows where the shoe pinches most; therefore their involvement is vital in decision-making process.

(62). Impossibilities:
Nothing is impossible since impossibilities are time-sensitive and person-sensitive; therefore, let us continue to chase for solutions.

(63). Time effect:
Buying power of money is increasing day-by-day, therefore - today money is able to buy what it failed to buy yesterday.

(64). Failures:
Willing to fail puts life on positive mode, unwilling to fail causes distress, disease and death.

(65). Weapons:
Weapons cause weeping – quit them. Guns do not give smiles, missiles do not mount peace, bombs do not bag boarders, arms do not bring arms together, money do not melt hearts, wealth cannot wipe-off tears, therefore let us apply something which is more powerful i.e. humanity to solve and resolve our problems and disputes.

(66). Tomorrow:
Tomorrow is not there for animals and other forms of life that are wiser than human beings. For reasons best known to us, we did not buy this philosophy and therefore, we became unwise. Thus, we started acquiring things for tomorrow ignoring the fact that tomorrow’s existence and its availability to us is entirely in the hands of tomorrow.

Finally, we must realize a fact that tomorrow is only in the hands of tomorrow; whereas, today is in our hands, therefore, let us contribute something today instead of waiting for tomorrow.

(67). Savings:
If I am saving something for tomorrow, I am depriving someone who needs it today (.) Saving something for tomorrow is depriving someone who needs that something today.

(68). Postponement:
Do it today since tomorrow is too late for a good job.

(69). Spending:
We need to save something for a rainy-day which is bound to come to all of us, one day or the other.

(70). Words:
Words have no meaning of their own since they are subjective and thus, user-sensitive. Hence this world is a battle field for definitions.

(71). Our World:
Mad people think others are mad, others think the other way round. No one knows who is really mad since everyone is mad in his own way - this is the real beauty of our wonder-world wonderful enough to keep life going in a wonderfully wonderful manner.

(72). Love:
Love loves the love lovely; the love loved by love loves the love lovely and lovingly.

(73). Progress:
Working against nature is unnatural and abusive, therefore - work along with nature since nature is the greatest teacher with principles as rigid as rigid can be.

(74). Use:
Misuse and abuse are inevitable for things that are in use.

(75). Failure of money:
Money can buy pleasures, not happiness.

(76). Composition of life:
God fills life with little satisfaction and large dissatisfaction.

(77). Hidden World:
This is a hidden world since everyone is hiding something.

(78). Today’s trend:
Become important by reducing other man’s importance.

(79). Talent:
Talent makes you competent, cleverness makes you successful.

(80). Perfection:
Never aim at perfection since it is not there.

No one is perfect since everyone is perfecting imperfection.

Perfection is nowhere since imperfection is being perfected everywhere.

(81). Excellency:
Consistency is better than Excellency.

(82). Misunderstanding:
We often misunderstand because it is easy to do so.

(83). Underperformance:
We underperform since we undermine learning.

(84). Needs:
Wise men work for needs, others for greeds.

(85). Greeds:
Lust for luxuries lessens life on earth.

(86). End result:
We do not become best by doing our best; we become best only by doing what is required.

(87). Poverty Eradication:
If politicians eradicate poverty, they become poor, Will They Do It?

(88). Bends in life:
Every bend on the road is not a bend in the life.

(89). Purpose of life:
The purpose of birth is death, not yours.

(90). Purpose of eating:
Animals eat for us, we eat for ourselves.

(91). Enmity:
Today’s enemies are tomorrow’s friends, the converse too is true.

(92). Zeroism:
All heroes become zeroes at the end.

(93). Rejection:
We reject others and their ideas only to accept bigger returns.

(94). Insecurity feeling:
The feeling of insecurity is blighting the lighting of our world.

(95). Nationality:
Humanity is a better tag than nationality.

(96). Oneness
Oneness is better than own-ness.

(97). Denying
We deny only to get denied.

(98). Godliness:
Humanity is the manifestation of godliness.

(99). Wisdom:
Commonsense is the essence of all kinds of wisdom.

(100). Life’s span:
The gap between birth and death is life.

(101). Madness:
Everyone is mad since no one is glad.

(102). Weakness:
Rich feeds on poor and greets the rich.

(103). Togetherness:
Let us live together since we came alone and go alone.

(104). Curiosity:
Curiosity causes creativity, create it.

(105). Satisfaction:
Satisfy with earning, not with learning.

(106). Studentship:
Be a student as long you live, this ensures success.

(107). Learning:
Self-teaching is the best way of learning.

(108). Work Culture:
Learn aloof and work together.

(109). Bad Learner:
A poor listener is a bad learner.

(110). Study Campus:
A study campus qualifies to learn outside, pursue it.

(111). Study Results:
Results mostly come from off-the campus learning, promote it.

(112). Time Sharing:
Spare time to share with others.

(113). Inventors:
Inventors may be mad, not inventions.

(114). Welcome To Ideas:
Welcoming ideas means inviting inventions, progress and prosperity since a closed mouth cannot catch flies, be quick enough to grab.

(115). Enemies to progress:
Snubbing ideas means shrinking progress and prosperity, be vigilant.

(116). Bridging for peace:
Humanity is the only bridge to merge people and nations, adopt it.

Humanity is the only tool for melting hearts and merging people, apply it.

(117). Safety:
Security measures are not safety measures.

When safety dies, security raises.

The death of safety gives birth to security.

(118). Commonsense:
Commonsense is the essence of all kinds of knowledge available to human beings on earth. Therefore, commonsense has become the most uncommon commodity on earth ever since the birth of earth.

Unfortunately this priceless commodity is becoming more and more uncommon day-by-day, therefore due to its unavailability, we seldom apply this priceless commodity to solve problems.

(119). Friction:
Friction is responsible for industrial and population growth.

(120). Every day is a turning day:
Every day we turn a day, whether we work or not.

(121). Teamwork:
No team is strong since a weak man is there in every team, therefore, think twice before building, appointing or handling teams.

(122). Mistakes:
Following is a fault, copying is a crime and imitating is an offence.

(123). Competition:
Your competitor is a true measure of your performance and strength.

(124). Laziness:
A lazy man eats more, rests more, rusts more and lives more; often he is regarded as a poor man.

(125). Nothing:
No one has the potential of doing nothing since doing nothing is unachievable, but the dead can do it, thus, impossibilities are not only time sensitive, person-sensitive, position-sensitive and place-sensitive, but also, state-sensitive. This is called “Nori State Theory”.

(126). Origin of life:
Life originates from friction and fluids.

(127). Progress on earth:
Progress of any kind is impossible without friction and fluids; wear is the single largest controller of world economy and economics. It directly affects individuals, institutions, organizations and nations.

(128). Purity:
Nothing on earth is pure since nature believes in doping.

(129). Purpose of life:
The purpose of life is not only to live, also to support others live.

(130). Brain robbery:
Brain robbery is the biggest crime since it involves physical, mental, financial, virtue and morality loss.

(131). Love for the society:
Life without love for others is not a life, it something untold by life.

(132). Professional ethics:
Buy ideas, do not copy, also discourage copying.

(133). Death reveals life’s history:
Death story is the history of the person untold by the person.

(134). Service to humanity is service to GOD:
There is God in every genuine needy, help him to serve Him.

(135). Live to love:
Life is not for living; it is for loving (human life, animal life & plant life).

(136). Certainty of life:
In life, nothing is more certain than death.

(137). Quality work:
A quantified work is a qualified work, hence a q only one thing at a time uality work.

(138). Qualification of work:
A qualitative work does not qualify to work.

(139). Adjectives in reports:
Adjectives adjourn decisions, omit them.

(140). Exploration:
We explore only to exploit, do it judiciously.

(141). Do only one thing at a time:
God gave us two eyes to see only one thing at a time, two ears to listen to only one thing at a time, two hands to do only one thing at a time and, two legs to move to one destination at a time. Therefore, the right way of doing many things at a time is to do only one thing at a time.

(142). Politics:
Accurate diagnosis and wrong prescription are the ethics of politics.

(143). We get what we deserve most:
No one can give anything to anyone. At the most, we can deliver something to someone granted by HIM, thus everyone gets what he deserves most, in the process, we claim credit for delivering things granted by HIM just as a postman.

(144). The greatest unpaid and silent teaches for human life:
Animal life, bird life and plant life are the master teachers for human life, since they do not charge any fee, we ignore them.

(145). Society:
Your success displeases too many and pleases too little.

(146). Need to perform well:
Worthy things are worth doing in a worthy manner, do well to remain on earth even after death.

(147). Effect of Failures:
Failure seeds philosophy, changes psychology, imparts maturity and releases poetry.

(148). Justice:
Jury cannot do justice to the dead, thus, jury must act fast.

(149). Loyalty:
Loyalty does not include doing injustice to others.

(150). Alive mode:
Live, don’t remain alive.

Special request:
Please forward this document to all your friends, relatives, colleagues, seniors, bosses, NGOs, charity organizations, policy makers, economists and government authorities.

Dear Sir / Madam,

This is Mr. NVSN Murthy (Nori Murthy), an independent researcher.

My undying commitment and passion for Economy, Economics, Humanity, Society, Writing, Global Oneness, Peace, Progress, Women & Child Welfare and Poverty Alleviation has produced “Norinomics” by yielding the above strenuous observations.

Thus, every quotation becomes an ageless and priceless invention unlike technological inventions that go outdated one day or the other.


• NVSN Murthy, A temporary visitor on earth serving people and nations as an Independent Researcher, Age: 57, Earthman (Indian), email:
• A passing visitor on earth melting hearts and merging people through humanity and friendship for causing peace, progress, prosperity and happiness to people and nations since life on earth is a one-time gift of GOD and hence, certainly worth living without causing and inviting tears.

Past address: Unknown / Present address: Earth / Future address: Unknown
Disclaimer of Liability: The material contained in this section is purely general in nature and should not be used in relation to any specific application without independent study for applicability and suitability for the intended purpose. These ideas are personal views and become valuable if valued with right perceptive without any bias of any kind in any direction or magnitude.

(151) Ducks: Be a duck, but don't float in water

(152) Crackers: Good on their own, even without peanut butter.

(153) Phone sex: Be aware, but don't be inert!

(154) Some individualist cliche: A bird in the hand is worth a butterfly who's lactating because it's hit menopause or something.

A New Economic Philosophy with a Human Face
(MY Contribution to MY People of MY Planet)

Easy route to eliminate economic crisis:
De-linking of economy from economics is the simplest solution to economic crisis, think it over…..

Measures for stable economy:
Insulate, do not isolate, economy and economics from GDP, Sensex, Forex, Inflation and Debt. This ensures stable economy and also helps in speedy and effective recovery from economic crisis, if any, think it over…..

NVSN Murthy - a passing visitor on earth passing through earth and chasing death.