I read that Obama was going to talk about cutting taxes and deficit reduction tonight, and I wondered if I had time-warped back to 1982. Here's what Obama's Beloved Daddy, Ronnie Raygun, said in his first SOTU.
This passage jumped out at me:
And so, the question: If the fundamentals are in place, what now? Well, two things. First, we must understand what’s happening at the moment to the economy. Our current problems are not the product of the recovery program that’s only just now getting underway, as some would have you believe; they are the inheritance (emphasis mine) of decades of tax and tax and spend and spend.