As picked up by Slate, here, which especially savors a straw man when mixed with a delusion:
[A] powerful ideology—the belief in free and unfettered markets—brought the world to the brink of ruin. Even in its heyday, from the early 1980s until 2007, American-style deregulated capitalism brought greater material well-being only to the very richest of the richest country of the world. ...
A decade ago, in the midst of an economic boom, the United States faced a surplus so large that it threatened to eliminate the national debt.