Reaganites Gathering To Celebrate 40th President at Inaugural Reagan National Economic Forum

SIMI VALLEY, California — We’re here at the Reagan Library for the inaugural meeting of the Reagan National Economic Forum.First up, I believe we are here to celebrate the memory and the achievements of Ronald Reagan, who I believe was by far the most consequential president in the second half of the 20th century. And indeed will go down as one of the greatest presidents in American history.Of course, I began my political career in Reagan’s Office of Management and Budget.Reagan completely changed economic policy.He buried the FDR New Deal big-government socialist dogma that governed both Democrats and Republicans for nearly 50 years.Reagan slashed tax rates — to 28 percent from 70 percent — and worked with central banker Paul Volcker to make the dollar as good as gold, thereby vanquishing inflation.Feature one of his many great aphorisms: “Why is it inflationary if the people keep their own money and spend it the way they want to and it’s not inflationary if the government takes it and spends it the way it wants to?”And the economy boomed, at a near-5 percent growth rate, as inflation plunged, and the stock market rose twelve-fold.This remarkable economic recovery enabled Reagan to bring down the curtain on Soviet communism.In meetings with Gorbachev, the Russian wanted Reagan to give up the Strategic Defense Initiative — Star Wars — but Reagan bluntly refused, and told the Russian that the American economy was producing the resources not only for the SDI, but also for vast American military power.And the Russian communist economy was collapsing into the dustbin of history.Reagan prevailed. Gorbachev folded. And then Soviet communism evaporated.The Iron Curtain came down.Reagan was a world leader at the G-7 meetings.Even though the liberal press mocked him, the other leaders followed his policies of lower taxes and deregulation, in order to reignite their own economies.And Reagan’s appearance on the world stage, and his policies in the U.S.A., launched a three-decade-long era of prosperity and peace.There is always much more to be said about the Gipper’s greatness, and his patriotism.He was the quintessential optimist, and believed America to be the “shining city upon a hill.”He believed in American exceptionalism, and had enormous faith in the wisdom of the American voters — rather than the government.So many times, he asserted that government was the problem, not the solution.Here is how he memorably put it: “The nine most terrifying words in the English language are: ‘I’m from the Government, and I’m here to help.’”The more people saw him and the results of his policies — the more they loved him.He scored two landslide presidential election victories, and even today, his polls are running in the vicinity of 60 percent.He did warn, toward the end of his life, how important it was to work hard to keep us free — and strong: “Freedom is a fragile thing and it’s never more than one generation away from extinction.”So we’re here, for the next two days, to celebrate the life, works, and legacy of the great Ronald Reagan.From Mr. Kudlow’s broadcast on Fox Business Network.

Reaganites Gathering To Celebrate 40th President at Inaugural Reagan National Economic Forum

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