Monday, December 28, 2015

Doubling Down on W

Paul Krugman DEC. 28, 2015, NYT

2015 was, of course, the year of Donald Trump, whose rise has inspired horror among establishment Republicans and, let’s face it, glee — call it Trumpenfreude — among many Democrats. But Trumpism has in one way worked to the G.O.P. establishment’s advantage: it has distracted pundits and the press from the hard right turn even conventional Republican candidates have taken, a turn whose radicalism would have seemed implausible not long ago.

After all, you might have expected the debacle of George W. Bush’s presidency — a debacle not just for the nation, but for the Republican Party, which saw Democrats both take the White House and achieve some major parts of their agenda — to inspire some reconsideration of W-type policies. What we’ve seen instead is a doubling down, a determination to take whatever didn’t work from 2001 to 2008 and do it again, in a more extreme form.

Start with the example that’s easiest to quantify, tax cuts.

Big tax cuts tilted toward the wealthy were the Bush administration’s signature domestic policy. They were sold at the time as fiscally responsible, a matter of giving back part of the budget surplus America was running when W took office. (Alan Greenspan infamously argued that tax cuts were needed to avoid paying off federal debt too fast.) Since then, however, over-the-top warnings about the evils of debt and deficits have become a routine part of Republican rhetoric; and even conservatives occasionally admit that soaring inequality is a problem.

(More here.)

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