President Johnson

"Early in this century, the idea began to take hold in the United States that the problems of our society were growing so large that individuals could no longer cope with them. Instead, people began asking the government to assume responsibility for solving their problems—and to do the things for them that they once did for themselves. Government gradually became a beneficent protector against the evils of modern life. That trend accelerated during the 1960s as we were promised through the powers of government that we could fight a land war in Asia, abolish the business cycle, eradicate pollution, and put a man on the moon, all at the same time. The result of President Johnson’s “guns and butter” economy, broken promises, and an overbearing government, was predictable."

"President Johnson’s “Great Society,” based on the fallacy of Keynesian economics, had assured an entire generation that they could have their cake and eat it too. Throughout the 1960s, politicians promised that we could wage war on foreign soil, control pollution, rebuild our medical system, overhaul our transportation network, guarantee the good life to the poor and elderly, provide a college education for everyone, feed the world, improve our weapon systems, and continue to increase everybody’s disposable income—all at the same time."