Tim Pawlenty speech follows Ronald Reagan, says Politico historian

POLITICO historian-in-residence James Hohmann spots something of a precedent for Tim Pawlenty's economic address today in Chicago — a speech heavy on big policy promises that could easily have unforeseen political consequences. Hohmann emails:

Ronald Reagan also chose Chicago to deliver a economic policy speech in September 1975 as part of his primary challenge against President Gerald Ford.

Reagan’s “creative federalism” proposal returned many federal functions, outside of defense and entitlements, to state and local governments. His staff distributed a list of $90 billion in proposed cuts (more than $355 billion in today’s dollars) and the former California governor promised an average 23 percent across-the-board tax cut. He said transferring discretionary control over spending closer to the people would result in additional cuts.