The Rise of the Regressive Right and the Reawakening of America

Eric Cantor, Paul Ryan, Rick Perry, Michele Bachmann and the other tribunes of today’s Republican right aren’t really conservatives. Their goal isn’t to conservative what we have. It’s to take us backwards.

They’d like to return to the 1920s — before Social Security, unemployment insurance, labor laws, the minimum wage, Medicare and Medicaid, worker safety laws, the Environmental Protection Act, the Glass-Steagall Act, the Securities and Exchange Act, and the Voting Rights Act.

In the 1920s Wall Street was unfettered, the rich grew far richer and everyone else went deep into debt, and the nation closed its doors to immigrants.

Rather than conserve the economy, these regressives want to resurrect the classical economics of the 1920s — the view that economic downturns are best addressed by doing nothing until the “rot” is purged out of the system (as Andrew Mellon, Herbert Hoover’s Treasury Secretary, so decorously put it).