POLITICS
08/01/2010 11:14 am ET Updated May 25, 2011

David Stockman: Republicans Have Abandoned Their Principles And Crippled The Economy

The new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance -- vulgar Keynesianism robed in the ideological vestments of the prosperous classes.

This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one.

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