Republican Bubbles

From David Stockman, a director of the Office of Management and Budget under President Ronald Reagan, in the New York Times:

[Senate minority leader Republican Mitch] McConnell’s [extend the Bush tax cuts for the wealthy] stand puts the lie to the Republican pretense that its new monetarist and supply-side doctrines are rooted in its traditional financial philosophy...[The current Republican fiscal] approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy.

Read more.