What The GOP Pols Have Wrought—A Fiscal, Economic And Political Monster, Part 2

In Part 1 we revived Senator Howard Baker's famous description of the giant Reagan Tax Cut of 1981 as a "riverboat gamble", and that it was. When the "bidding war" with the Dems ended in July 1981, the US Congress had cut the Federal revenue base by 6.2% of  GDP in the outyears. At today's economic scale that would amount to a tax cut of $1.2 trillion per year!