THE best book on Reaganomics. Please tell me if I'm wrong.

2207 Day of Reckoning: The Consequences of American Economic Policy Under Reagan and After, by Benjamin Friedman (read 21 Apr 1989) This is a 1988 book by a Harvard professor. It is excellent in showing how awful Reagan's fiscal policy is, but what can be done? Bush wins by saying "No more taxes" and anyone in favor of such loses! When Reagan became president the national debt was $914 billion. In 1988 the national debt was $2.6 trillion! This book shows how disastrous Reagan has been. But things for remedying this appear bleak indeed. ( )

Between 1980 and 1988, the US national debt tripled, rising to $2.6 trillion by the time Ronald Reagan left office. Under color of "conservative" slogans, a radical economic policy was launched which created an illusion of prosperity by selling off assets, dramatically increasing debt, and reducing the tax burden on the rich. Reagan's legacy was to convert the world's largest creditor into the world's largest debtor.
Benjamin Friedman, after graduating Summa Cum Laude from Harvard University, became an investment banker in New York City. After writing extensively on the economics of fiscal policies, he joined the faculty of Harvard as professor of economics. This is his landmark work, painstakingly refuting the surprisingly widespread myth that Reagan's "supply-side" reduced tax rates should be credited with solving the fiscal crisis which Reagan claimed to be addressing in his initial campaign. In January 1981, he pointed to the "runaway deficit of nearly $80 billion" as evidence that "the federal budeget is out of control." [19] In the first six years of his office, the AVERAGE annual deficit was $184 billion. The Kemp-Roth tax cut was a fairy tale, which even George Bush recognized as "voodoo economics". [21]
The economic analysis reveals the truth, and although Friedmen advances almost no "historical" or hermeneutic argument, he notes that the abdication of our long-standing commitment to the future was deliberate, studied, and devised with ulterior motives in mind. [21-24]
However, Friedman does not dwell on whether the new fiscal policy, so strongly represented by such a beguiling leader, was simply a collossal error or moral irresponsibility with ulterior motives. Most of the book is focussed on analyzing the significance of massive borrowing and fixing the problem. ( )