I remember this Mario Cuomo speech in 1984, and today everyone is lauding it with Cuomos passing. He had no clue what he was talking about. I lived in NY. Cuomo (the NY governor) was a big government liberal. He was all about raising tax rates and growing government and felt the solution lied in more government programs for this group and that group. He strongly opposed Reagans capitalistic ideas of cutting income taxes for all, and letting the people spend and invest their own money as they (not government) saw fit, and it would grow the economy significantly and that rising tide would raise all boats. Regan cut taxes 25% across the board, not just for the rich... To that end, Cuomo wrote this speech and it was classically bad and so out of touch with what was unfolding and what was coming down the pike. Cuomo talked about how bad the economy was and was going to be under Regans policies. He gave the speech in the summer of 1984. The real GDP figures up to that speech were skyrocketing with +9.1% in Q2 of 1983, +7.8% in Q3, +8.3% in Q4, +7.9% in Q1 of 1984 and +7.0% in Q2 of 1984. The economy was absolutely on fire!. We were getting all this economic growth plus inflation was coming down, so real income and wealth was growing by leaps and bounds across the board. Then Cuomo gives this speech, telling people how down and out the economy was and was going to be. What is he talking about, was what most were thinking. In the end, he was dead wrong in so many ways and that is how that speech should be remembered. The early to late 1980s saw some of the strongest growth in decades. I cant see how anyone can look back at this speech against the backdrop of the unfolding economic boom and call this a legacy like Cuomo was some visionary or something. news.yahoo/the-legacy-of-mario-cuomo-s-1984-%E2%80%9Ctale-of-two-cities%E2%80%9D-speech-150348324.html Watch his speech. https://youtube/watch?v=kOdIqKsv624
Posted on: Fri, 02 Jan 2015 20:46:44 +0000