Larry Kudrow: Celebrating Ronald Reagan

We are at the Reagan Library in Simi Valley, California for the first meeting of the Reagan National Economic Forum. But I think we need to first celebrate the memories and achievements of Ronald Reagan, whom we believe was the most consequential president of the second half of the 20th century.

And certainly, he falls as one of the greatest presidents in American history. Reagan Completely Changed economic policies.

Incidentally, full disclosure, I was the assistant budget director during Reagan’s first term, but I got off track. He filled the FDR’s “New Deal” and the massive government, a socialist doctrine that has ruled both Democrats and Republicans for nearly 50 years.

Reagan Tax rates have been reduced from 70% to 28% And he worked with central banker Paul Volker to make gold as good as gold, thereby defeating inflation. Reagan once asked, “If people keep their money and use it the way they want, why is inflation inflation-like, and if the government accepts it and uses it the way they want, isn’t it inflation?” “And the economy was booming.

Growth rate almost 5% as inflation plunged and stock markets rose 12x under Gipper. This amazing economic recovery allowed Reagan to take down the curtains of Soviet Communists. At a meeting with Gorbachev, the Russians wanted Reagan to abandon the strategic defense initiative or Star Wars, but Reagan bluntly refused, telling the Russians that the American economy generates resources not only for strategic defense initiatives, but also for the vast American military and strength.

And Russia’s communist economy was falling apart in the trash cans of history. Of course, Reagan won, Gorbachev folded, and Soviet communism evaporated. The iron curtains have come down. Reagan was the world leader of the G7 Conference. Despite the liberal press laughed at him, other leaders followed his low tax and deregulation policies to rekindle their economy. And Reagan’s appearance on the world stage and his policies in the United States began a long three-year period of essentially prosperity and peace.

Well, there’s always been a lot to say about Gipper’s greatness and his patriotism. He was a typical optimist and of course believed that America was a glittering city on the hill. He believed in American exceptionalism and had great faith in the wisdom of American voters and the American people, not government. Many times he argued that the government was a problem rather than a solution. He said, “The nine most frightening words in English are: I came from the government. I am here.”

The more people saw him, the more they saw the outcome of his policies, the more they loved him. He won two landslides. The victory in the presidential election. And even today, his polls are still running in 60% of areas. But he warned towards the end of how important it is to work hard to keep us free and strong, saying, “Freedom is fragile and never more than a generation away from extinction.” That’s a very important thing to remember at all times.

So we’re at the Reagan Library for the last two days, celebrating life, work, and the legacy of the great Ronald Reagan.