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Sun Feb 18, 2018, 08:02 AM

Republicans only care about debt when there's a Democrat in the White House [View all]

Yet Trump is no aberration; nor is he an outlier in his party. The reality is that there has never been any kind of “ideological consistency” in favour of balanced budgets or “loathing” of deficit spending on the part of the GOP. Rather, Republicans cynically scream about debts and deficits when a Democrat is in the White House, only to then run up much bigger debts and deficits once a Republican takes over the top job.

Consider the historical record. Except for Barack Obama, who entered office in the midst of the worst financial crisis since the Great Depression, every single Democratic president of the postwar period (Truman, Kennedy, Johnson, Carter, Clinton) has reduced the national debt as a proportion of GDP. In stark contrast, none of the Republican presidents since Richard Nixon left office in 1974 – Ford, Reagan, Bush Sr, Bush Jr – have been able to do the same.

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Remember: there is nothing new to this Republican scam. Reagan administration officials back in the 1980s called it “starving the beast”: cut taxes on the rich; increase spending on defence; force up borrowing levels; and then insist on savage cuts to social spending to balance the books. It’s all a big con. They don’t actually care about the deficit; to quote Dick Cheney, speaking in private during the first term of the Bush Jr presidency, “deficits don’t matter”.


[link:https://www.newstatesman.com/politics/economy/2018/02/republicans-only-care-about-debt-when-there-s-democrat-white-house|

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Reply Republicans only care about debt when there's a Democrat in the White House [View all]
Soph0571 Feb 2018 OP
dchill Feb 2018 #1
Sherman A1 Feb 2018 #2
Vogon_Glory Feb 2018 #3
Wounded Bear Feb 2018 #6
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Wounded Bear Feb 2018 #10
chuckstevens Feb 2018 #4
workinclasszero Feb 2018 #5
Guilded Lilly Feb 2018 #7
rock Feb 2018 #8