President Reagan, in his fifth address about the budget, talks about his Tax proposals and Government spending, given on July 26th, 1981.
July 26, 2011

"the show that never ends".

Ironically, on this day in 1981 President Reagan took to the airwaves for the fifth time since the beginning of the year to talk about the Budget. Yes, the Budget - even then. Thirty years ago to the day it was about cutting spending, getting it all under control, allaying fears over cuts to Social Security. Slashing government programs. Dismantling institutions. belt tightening. All the mantras.

But even then, there was a certain ironic hat tip to FDR.

President Reagan: “We must also insure that taxes due the government are collected. And that a fair share of the burden is borne by all.”

Sounded good. But the platitudes and the practice were two different things. Giving the burden over to local governments. Removing regulations. Wishful thinking Business and Wall Street would open their checkbooks and take care of everything. All that "trickle down".

Yes, this day thirty years ago it was all about Washington and all about the Government and all about money.

I'm sure you all have many choice observations to make.

Have a listen and have at it.

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