I've always admired David Stockman, a rare Republican who seems to have principles.
My memory - without benefit of Wikipedia, okay? - is that he resigned as Reagan's director of the Office of Management and Budget when it became clear to him that Reagan was only too happy to cut taxes, as Stockman wanted, but would use none of his political capital to restrain spending. I even bought a (used) copy of Stockman's book - that's how impressed I was at the time.
So when I opened my NY Times this morning and found an amazing op-ed piece by Mr Stockman, I read it immediately. (The article may be behind a paywall - I don't know, because I have paid my dues, unlike free-lunch Republicans.)
Stockman believes that there have been "four great deformations of the national economy" since the 1940s, and that "modern Republicans have turned a blind eye to each one." Here's an example:
The second unhappy change in the American economy has been the extraordinary growth of our public debt. In 1970 it was just 40 percent of gross domestic product, or about $425 billion. When it reaches $18 trillion, it will be 40 times greater than in 1970. This debt explosion has resulted not from big spending by the Democrats, but instead the Republican Party’s embrace, about three decades ago, of the insidious doctrine that deficits don’t matter if they result from tax cuts. (my emphasis)
I won't go on here: you should read this riveting article for yourself.
BTW, it's interesting that the subheading, "How my G.O.P. destroyed the U.S. Economy", appears in the print version of the paper but not online, as far as I can tell.