“Reagan proved that deficits don’t matter,” Vice President Dick Cheney said when the Bush administration sought a second round of tax cuts in 2003. This fits with a rich tradition of conservative tax-cutters abandoning deficit hawkery when they want to hand money to favored groups. But some economists on the left agree with Cheney that deficits don’t matter—at least not as much as more jobs and prosperity for all—and their views are getting newfound attention because of an offhand comment by presumptive Republican presidential nominee Donald Trump.
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As Cheney’s quote about Reagan shows, Republicans habitually ignore deficits when they obtain power. It’s a matter of convenience, a tempting way out of the fiscal responsibility trap that makes it difficult for politicians to keep their campaign promises. But every time a Bill Clinton or a Barack Obama gets the keys to the Oval Office, Republicans flip the script, generating a sudden fear of mountains of debt. Congressman Paul Ryan has been claiming the U.S. is about to turn into Greece for eight years. A deficit hawk industry in Washington comes alive to tell the nation that we’re broke. This creates practical constraints on liberal spending programs to help the poor and the elderly.
https://newrepublic.com/article/133431/donald-trump-right-deficits-dont-matter
What would you have done in 2008 GWB?
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As Cheney’s quote about Reagan shows, Republicans habitually ignore deficits when they obtain power. It’s a matter of convenience, a tempting way out of the fiscal responsibility trap that makes it difficult for politicians to keep their campaign promises. But every time a Bill Clinton or a Barack Obama gets the keys to the Oval Office, Republicans flip the script, generating a sudden fear of mountains of debt. Congressman Paul Ryan has been claiming the U.S. is about to turn into Greece for eight years. A deficit hawk industry in Washington comes alive to tell the nation that we’re broke. This creates practical constraints on liberal spending programs to help the poor and the elderly.
https://newrepublic.com/article/133431/donald-trump-right-deficits-dont-matter
What would you have done in 2008 GWB?
