25 Years Ago in Reason

"By spending $200 billion more than they take in each year, our President and Congress have doubled the national debt in just four years'"from $1 trillion to $2 trillion. Interest alone is now eating up $150 billion a year."

'"Robert Poole Jr., "Who Should  Sacrifice?"

"The comparisons between the 1980s and the 1920s are alarming. First, as in the '20s, Americans have a careless attitude about debt.…Despite Reagan's so-called economic recovery, homeowners are defaulting on mortgages in record numbers, and banks and savings institutions are going bankrupt at the highest level since the depression."

'"Mark Skousen, "Back to the Roaring Twenties?"

"American consumers are getting wise to the regulated-monopoly con, and it doesn't take subterfuge for them to make their case."

'"Marvin Olasky, "Hornswaggled!"

 '"February 1986