from The WSJ, Phil Gramm and Michael Salon, Reagan Cut Taxes, Revenue Boomed: As inflation plummeted from the CBO’s projected average annual rate of 8.3% for 1982-86 to an average of 3.8%, revenue compared with projections tumbled $22 billion in 1982
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Phil Gramm and Michael Solon write The ‘Financial Recession’ Excuse – Why did the U.S. recover faster from the Panic of 1907 than from the 2008 recession and the Great Depression? in the Wall Street Journal, 2/2/2012 Excerpt: Under President Franklin
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