"Trillion-dollar deficits are back, and they're here to stay," lamented the conservative Heritage Foundation.
Many liberal commentators are blasting Republican Trump's profligacy, but were unconcerned about such spending when their guy was in office.
With both sides so invested in government spending, it's not surprising to hear the revival of those old arguments that deficits don't matter.
Former Vice President Dick Cheney famously said that "Deficits don't matter." Such conservatives weren't interested in using federal spending to fight poverty and inequality, but they didn't want growing deficits to curtail their military efforts in Iraq or quash their desire to step up tax cuts.
His ideological heirs now argue that deficits are fine as long as interest rates are low and the Gross Domestic Product keeps growing.
It's morally reprehensible for current lawmakers who, to quote Limbaugh back when he was concerned about such things, are spending so recklessly "That it is destroying the future of your kids and grandkids." That's the key point.
Despite those TV ads, there is no such thing as "Freeeee money."
https://reason.com/2019/08/02/theres-no-such-thing-as-free-money-or-meaningless-deficits/
Many liberal commentators are blasting Republican Trump's profligacy, but were unconcerned about such spending when their guy was in office.
With both sides so invested in government spending, it's not surprising to hear the revival of those old arguments that deficits don't matter.
Former Vice President Dick Cheney famously said that "Deficits don't matter." Such conservatives weren't interested in using federal spending to fight poverty and inequality, but they didn't want growing deficits to curtail their military efforts in Iraq or quash their desire to step up tax cuts.
His ideological heirs now argue that deficits are fine as long as interest rates are low and the Gross Domestic Product keeps growing.
It's morally reprehensible for current lawmakers who, to quote Limbaugh back when he was concerned about such things, are spending so recklessly "That it is destroying the future of your kids and grandkids." That's the key point.
Despite those TV ads, there is no such thing as "Freeeee money."
https://reason.com/2019/08/02/theres-no-such-thing-as-free-money-or-meaningless-deficits/
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