Category Archives: deficit spending

Morning Awful: Sluggish Private Hiring

Remember how cutting corporate and high-end personal income taxes to their lowest level in fifty years was going to create bazillions of jobs through the magic power of Laffer curves? Like so much else in the theology of conservatism, this … Continue reading

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Budget Blowhards

So the House GOP is already breaking that campaign pledge to cut $100 billion in “waste”: On Tuesday, aides to Mr. Ryan and Mr. Boehner blamed Democrats’ failure to pass the regular appropriations bills for fiscal year 2011 for forcing … Continue reading

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Another 1937

Recovery from Depression was going just fine until 1937, when conservatives convinced FDR to cut spending and raise interest rates — not because markets needed the actions, but because they assumed markets would eventually want it. The result was a … Continue reading

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Debt Fearmongery

Financial Times takes a look at sovereign debt and concludes: The US does look vulnerable, but given that it has a reserve currency, it can use this to manage its funding problems. Its external debt is largely dollar denominated (and … Continue reading

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Wheat-From-Chaff: Deficit Reduction

The chaff is settling. If the Democrats cannot muster a 60-vote majority in the Senate then they must pursue majority rule; Evan Bayh has chosen not to take part in that. Meanwhile, the GOP’s two-faced approach to jobs is mirrored … Continue reading

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Bipartisanship and Budget Hawking

More 11-Dimensional Chess to drive the left batty: The bipartisan 18-member panel backed by Obama would study the issue for much of the year and, if 14 members agree, report a deficit reduction blueprint after the November elections that would … Continue reading

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Exploiting Economic Ignorance

aTimothy Egan of the New York Times describes the rhetoric of a tea party pundit: Who is Williams? A garden variety demagogue who calls Obama “an Indonesian Muslim turned welfare thug” and the Democratic party “a domestic enemy” of America. … Continue reading

Posted in Culture Wars, deficit spending, Kulturkampf, Producerism, Southern Strategy | 1 Comment

Which Party Is Fiscally Responsible?

Public debt under Reagan was about $200 billion. Under Bush I, it was about $300 billion. Under Bush 2, it skyrocketed to $482 billion — after starting with the $200 billion surplus left to him by Clinton. These are rather … Continue reading

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Of Patriots and Taxes

Patriotism then: Patriotism now:

Posted in deficit spending, donald duck, invasion of iraq, iraq, patriotism, tax policy, taxes, war on terror, world war 2 | Leave a comment

Selling Iran, Part 3

‘Iran is a crazy country, run by a new Hitler, who is building nuclear weapons to destroy the United States and Israel.’ That is the essence of the White House marketing campaign to bomb Iran, and it’s baloney.I despise the … Continue reading

Posted in Bush, China, deficit spending, Iran, Iran's 1979 Revolution, Iran's economy, Iran's electric program, Iran's nuclear program, March to War with Iran, petrodollar, petroeuro | 1 Comment