Susmit Kumar, Ph.D.
If a doctor prescribes you a wrong medicine which furthers deadly cancer, then it will take a lot of money (more than you spent initially and paid to the first doctor) as well as time to cure it. In the name of limited government and deregulation of economy the bogus theory of Reaganomics, especially under the recent Bush administration, have destroyed the U.S. economy to an extent that may be likened to a person having deadly cancer that can not be solved even in 5 to 10 years; it may even take a generation. Please see the below tables and my article (Reaganomics – A Bogus Economics Paid by China and Japan )
As shown in Table 1, almost 3 million good paying manufacturing jobs were lost in the first five years of the Bush administration. From 2005 till 2008, another 2 to 3 million manufacturing jobs were lost. These jobs went overseas and resulted in direct loss of U.S. share in the world export market of trades and services, as shown in Tables 2 and 3. Throughout Clinton's eight years the U.S. share increased consistently. During the following eight Bush years the country lost almost one third of its market share. China, on the other hand, gained the ground lost by the U.S. during that period.