I believe some of these Republicans re-finding religion on debt/deficit right now are genuinely freaked out by unprecedented spending & borrowing. I also believe they’re laying groundwork for ideological opposition to big govt programs in a Biden administration. Echoes of 2008.
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Conservatives: "The hell is 'economic logic'"
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they literally still go on record saying lowering taxes will increase revenue
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It's especially funny when you realize the incontrovertible fact that taxes have never funded spending in the first place.
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Reagan, Bush and Trump all blew up the deficit for tax cuts for the rich in times of economic growth. And yet the Republicans still try to bleat about how they’re “genuinely” concerned about the debt as soon as they fear losing power to the Democrats.
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Republicans only care about the deficit in regards to programs that benefit ordinary citizens. Military spending increase? Fine. Tax breaks for wealthy people? "Totally fine. They deserve it." Medicare, Social Security, unemployment? "Very concerned!! Lazy!"
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Indeed. Have written a bit on the subject.
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Then how could you possible use the word "genuinely" in this context?
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Every bit of this "Economic Malpractice" is what you're describing
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Public deficits = private surpluses. Inflation is the only logical way to judge when Federal spending is temporarily too high or too focused in a single sector. Both sides use defect myth religions over economic logic.
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There's an instinctive anti-Keynesianism that you get with normal people in opinion polls. "Tough times, got to tighten our belt." Not totally crazy that Republican electeds would lazily share it, even if there's also a lot of bad faith going on as well.
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