Republicans Are Fraudulent Deficit Hawks

Republicans have passed a tax bill that allows deficits of “less than” $1.5 trillion over the next ten years, followed by a spending bill that guarantees those deficits will be over a trillion dollars in the next year alone; this proves that the Republicans are frauds when it comes to fiscal conservatism.

They screamed in outrage at the trillion-dollar deficits that were forced on the Obama administration during its first year by the worst recession in 70 years, yet they were silent (with the exception of Rand Paul) over the latest spending bill that prevented a shutdown of the government and guaranteed a trillion-dollar deficit this year.  The shutdown was caused by the intransigence of the Republicans over DACA, not by any fiscal emergency.    It is shocking, shocking I tell you!

The worst of it is that temporary deficits were really called for under Keynes’ economic theory during the first days of the Obama administration, when recession was eating the houses of every American who lost his job through the lack of demand caused by speculators in real estate securities who got burned.  Even then, when Republicans offered solutions, it always involved tax cuts for the rich.  Now, when deficits are NOT called for because the economy is doing well, the Republicans who have gained the power are serving up deficits as far as the eye can see.  Now, when saving for a rainy day is really called for, the Republicans have given us– tax cuts for the rich.

Paul Krugman spells it all out in his latest New York Times column (op-ed): “Fraudulence of the Fiscal Hawks”

(photo “money laundering” courtesy of pixabay.com and stevepb)