Last edited Sat Oct 13, 2012, 12:29 PM - Edit history (1)
At the debate, Ryan began invoking voodoo economics -- the idea that the tax cuts will pay for themselves by stimulating economic growth -- which provoked Biden's "So now you're Jack Kennedy" response.
But what struck me this morning is that there inevitably will be growth as the nation recovers from the great recession -- which suggests that the Romney/Ryan team is factoring that in and that their real objective is to give it away preemptively, just as Bush gave away the Clinton surplus with his two massive tax cuts.
But there's even more to this than looking for ways to justify new tax cuts for the rich. It's ultimately all about the Norquistian goal of drowning government in the bathtub.
Right now, we're running trillion dollar deficits -- partly because of the Bush tax cuts and two wars and partly because of the recession reducing revenues. Under current policies, a second Obama term would see those deficits come way down. But Romney/Ryan are determined not to let that happen. So their agenda consists of maintaining and increasing the Bush tax cuts, ramping up military spending to cost more than the savings from ending the wars, and making sure that despite economic recovery the government's revenues remain at current depressed levels.
At which point, they will claim there is no alternative but to cut spending -- and will start slashing everything except the military by 40% or more.
Not only is their agenda, but it's an agenda that requires them to win the presidency now, because by 2016 there will be a new economic status quo and the nation will already be on a sounder financial footing.
So don't believe anyone who says the GOP has written off 2012 and is waiting for 2016. Some of the party power brokers may have -- but the people playing the Norquistian games have not. They know that right now is their last chance to destroy government as we know it.
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