The Triumph of Politics: Why the Reagan Revolution Failed

As Director of the Office of Management and Budget in the early 1980s, David Stockman was a chief architect of the Reagan Revolution -- a bold plan to cut taxes and reduce the scope and cost of government. The Triumph of Politics was Stockman's frontline report of the miscalculations, manipulations, and political intrigues that led to its failure. A major publishing event and New York Times bestseller in its day, The Triumph of Politics is still startling relevant to the conduct of Washington politics today.

User reviews

LibraryThing member carterchristian1

This book is a real shocker. I had always thought of "trickle down" of cutting taxes, had no idea Stockman was really also trying to cut spending programs (big time, Head Start, CETA, housing supplements) to balance the budget. According to this book, a real mea culpa, he realized he was wrong

after 6 months but never called a halt to the budget cuts.

Best paragraph

"I also set about with considerable gusto to dismantle the energy program"

There went Carter's solar energy, windmills, gasohol plants..putting us back to ground zero.

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LibraryThing member keylawk

The author was the only "economist" involved, at the time, in presenting President Reagan's "trickle-down" budget. This was Reagan's program of relieving the rich of their share of taxes, on the speculation that they are "job creators" and will spend their money building companies. He also slash

non-military government expenses to reduce public services and functions, while also increasing spending by expanding the military.

After it turned out that the amount of taxes actually collected was dramatically decreased, Reagan's team made up the shortfall by taking Social Security deposits (which were increased upon and from the middle class) and by borrowing heavily.

The rich were supposed to use their un-taxed profits to "create jobs". They didn't, but the appearance of prosperity was created with massive military spending and both public and private borrowing. The growth seen in the last three years of the Reagan administration was entirely due to Credit. In fact, the economy was collapsing as the Rich moved enterprises, and the cash, off-shore.

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