REAGAN: Reagan's vision lives on in Texas | Texans for Rick Perry

More than three decades ago, my father took ownership of the smoking ruins of the American economy armed with nothing more than four very basic principles: Keep taxes low, restrain government spending, minimize the amount of regulation on private enterprise and keep the money supply sound.

His approach may have appeared basic, but the results were unassailable. Over the next eight years, more than 16 million new private-sector jobs were created, a payroll expansion of 17.6 percent.

It was called the 'American Miracle' and was replicated by world leaders across the globe, who met with similar success."