Time for Some Answers

Time for Some Answers

It is clear by now that the Reagan administration is fulfilling the predictions of economic and social disaster that left-liberals made before Reagan’s election. Capitalism isn’t revitalized; instead, more than 25 percent of our productive capacity and almost 9 percent of our labor force are idle. Corporations and wealthy individuals have not invested the proceeds of their new tax cuts in new plants and equipment. Nor do they plan to do so. The Commerce Department’s “survey of American business executives shows them planning a five-tenths of 1 percent decline in ‘real,’ or inflation-adjusted,spending in 1982 compared with 1981” (New York Times, Jan. 14, p. D2). The unemployed and those who use public services are “sacrificing” in vain.

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