Obama Overthrows Reagan’s Government-Bad Dogma to Rescue Market

Bloomberg – Ronald Reagan used to joke that the nine most terrifying words in the English language were “I’m from the government and I’m here to help.” Barack Obama is making those words welcome.

As he approaches his 100th day in office, Obama is rolling back the Reagan Revolution and restoring government to a central role in the economy. He has passed the biggest budget stimulus ever, prepared the way for an overhaul of the U.S. automobile and banking industries and proposed a $634 billion government- funded expansion of health-care benefits.

“It’s profound,” says presidential historian Richard Norton Smith of George Mason University in Fairfax, Virginia. “There are very clearly taking place some long-term, even transforming shifts in priorities and resources.”

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