The Case For Economic Freedom

On the Oct. 26 broadcast of MSNBC's "The Ed Show," Rep. Barney Frank (D-MA) made a case for bigger government and argued "the only reason people opposed it was because they were disillusioned by the government for its failures during the Bush administration, specifically dealing with Hurricane Katrina."

CNBC's Larry Kudlow responded to the leftist imbalance by stating the following:

KUDLOW: Was there a conservative there? I saw Ralph Nader and Barney Frank. Did MSNBC miss a conservative dissent?

Well, here's my response to Congressman Barney Frank: With all due respect to Mr. Frank, who I think is a very smart guy, we tried heavy government control and regulation in the Soviet Union and Eastern Europe," Kudlow said. "It didn't work. They rebelled. They wanted economic freedom - the right to keep their own money, the right to start their own businesses, the right to climb the ladder of success in a free economy. That was the revolution.

The Reagan free market - deregulation revolution, with a sound dollar and low tax rates launched a 27-year boom," Kudlow said. "The Gipper's policies were copied all around the world.

So my question - what does Mr. Barney Frank know that virtually the entire rest of the globe doesn't know?" Kudlow asked. "The battle between democratic entrepreneurial capitalism and statism has already been won by the economic freedom fighters. This Congress is going in the wrong direction. Growth and wealth come from individuals and human action, not the heavy footprint of the state.

Look, this is better than that MSNBC show that had two lefties - Barney Frank and the other dope, Ralph Nader," Kudlow said. "At least we have an equal representation.

Larry Kudlow is the former associate director for economics and planning in the Office of Management and Budget under former President Reagan and he just explained that free-market policies had a proven track record. Government Regulation, not so much.

Individuals, not goverment, creates wealth. When you lower taxes and allow people to keep more of what they earn, treasury revenues go up. Reagan and Bush proved this by creating all time records in revenues. The Obama administration & the Democrat controlled Congress is moving in the opposite direction, and revenues have dropped off the table. (HT Real Clear Politics & NewsBusters):

Real Clear Politics: CNBC's Kudlow Rips MSNBC for Lack of Balance; Calls for Supply-Side Solutions for Economy
NewsBusters: CNBC's Kudlow Rips MSNBC for Lack of Balance; Calls for Supply-Side Solutions for Economy