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Fri Mar 8, 2019, 04:01 AM

 

Tariff Man Has Become Deficit Man

Trump really has no idea how international trade works.

By Paul Krugman Opinion Columnist March 7, 2019

Republicans hate deficits. Or at least that’s what they claim.

Republicans in Congress spent the entire Obama administration inveighing against budget deficits, warning incessantly that we were going to have a Greek-style fiscal crisis any day now. Donald Trump, on the other hand, focused his ire mainly on trade deficits, insisting that “our jobs and wealth are being given to other countries that have taken advantage of us.”

But over two years of unified G.O.P. control of government, a funny thing happened: Both deficits surged. The budget deficit has hit a level unprecedented except during wars and in the immediate aftermath of major economic crises; the trade deficit in goods has set a record.

About the dishonesty: Is there anyone left who believes that Republicans ever really cared about debt and deficits? The truth is that the phoniness of their fiscal posturing should have been obvious all along.

In any case, at this point it’s undeniable that their fire-and-brimstone debt rhetoric was nothing but a pose, an attempt to weaponize the deficit as a way to block and undermine President Barack Obama’s agenda.


https://www.nytimes.com/2019/03/07/opinion/trump-deficit.html

6 replies, 1022 views

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Reply Tariff Man Has Become Deficit Man (Original post)
workinclasszero Mar 2019 OP
democratisphere Mar 2019 #1
allgood33 Mar 2019 #2
KG Mar 2019 #3
Martin Eden Mar 2019 #4
Gothmog Mar 2019 #5
dalton99a Mar 2019 #6

Response to workinclasszero (Original post)

Fri Mar 8, 2019, 04:09 AM

1. King of All Deficits - His Majesty CONald drumpf.

No wonder drumpf doesn't want his school grades released. He is a complete failure at math.

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Response to workinclasszero (Original post)

Fri Mar 8, 2019, 04:13 AM

2. Democrats need to grab the headlines on this one and talk about it every chance they get.

 

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Response to workinclasszero (Original post)

Fri Mar 8, 2019, 05:07 AM

3. he has only the vaguest of notions about the world outside of whatever room he's in

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Response to workinclasszero (Original post)

Fri Mar 8, 2019, 06:12 AM

4. Yes, I believe Republicans really do care about debt and deficits.

Krugman and many others have pointed out that federal deficits go up when the GOP controls government. It's easy to think they simply don't care or are too stupid to understand the predictable effects of their own policies.

But I think soaring deficits ARE the intended effect.

The long term Republican goal (as stated by Grover Norquist) is to "shrink government" to a size that can be "drowned in a bathtub."

However, it's almost impossible to eliminate popular government programs like Social Security and Medicare by direct legislative assault.

Instead, their strategy is to "Starve the Beast."

Soaring deficits bolster their argument to convince the public that "entitlement" programs have become unaffordable, and that tough decisions have to be made.

Republicans then claim the mantle of responsible "fiscal conservatives" when the plain fact of the matter is they are primarily responsible for causing the deficits because ...

Republicans want deficits.

Republicans need deficits to achieve their long term ideological agenda.

Their ideology, of course, is dictated by the oligarchs who fund their political careers. It's really not the size of government that counts -- it's whose interests it serves

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Response to workinclasszero (Original post)

Fri Mar 8, 2019, 10:10 AM

5. I agree with Prof. Krugman

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Response to workinclasszero (Original post)

Fri Mar 8, 2019, 10:10 AM

6. Kick

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