Panetta summed up Reaganomics in a single sentence: “A significant tax cut was enacted at the same time that defense spending went up and…entitlement programs were also expanding.”

— David Wessel Red Ink: Inside the High-Stakes Politics of the Federal Budget (2012)

More quotes by David Wessel

Red Ink: Inside the High-Stakes Politics of the Federal Budget (2012)

Red Ink: Inside the High-Stakes Politics of the Federal Budget (2012)

Red Ink: Inside the High-Stakes Politics of the Federal Budget (2012)

Red Ink: Inside the High-Stakes Politics of the Federal Budget (2012)

Red Ink: Inside the High-Stakes Politics of the Federal Budget (2012)

Quote text and notes from Wikiquote: David Wessel (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.