Their vision is that if there’s a sliver of folks doing well at the top who are unencumbered by any regulatory restraints whatsoever, that the nation will grow and prosperity will trickle down. The challenge that they’re going to have is: We tried it. From 2000 to 2008, that was the agenda. It wasn’t like we have to engage in some theoretical debate – we’ve got evidence of how it worked out. It did not work out well, and I think the American people understand that.
While I am happy that we are, in fact, having a conversation about Reaganomics, I have to disagree with Obama on that last point. It would seem self-evident that the American people do not understand things based on evidence.
So not only does Obama have to win his argument, he has to educate his audience as to the basic terms of arguments in the first place. Good thing he's a professor.