by Summary:
The recovery has since picked up speed, so the deficit should be falling especially fast right now. Unfortunately, the FRED data site does not have updated figures, but the deficit is no longer falling. Indeed it’s exploding, expected to reach .1 trillion in 2019. Nothing like this has ever happened in America during a period of peace and prosperity. There is such a firehose of spending that Washington is hardly able to shovel dollars out the door as fast as they are being appropriated… This is what happens when you give the GOP full control over the government. Hardly anyone is reporting this story, even though it’s one of the most bizarre things to have happened in America during my lifetime. Perhaps this is because none of our “tribes” has an incentive to acknowledge these
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Mike Norman considers the following as important: GOP, US economy, US Politics
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The recovery has since picked up speed, so the deficit should be falling especially fast right now. Unfortunately, the FRED data site does not have updated figures, but the deficit is no longer falling. Indeed it’s exploding, expected to reach .1 trillion in 2019. Nothing like this has ever happened in America during a period of peace and prosperity. There is such a firehose of spending that Washington is hardly able to shovel dollars out the door as fast as they are being appropriated… This is what happens when you give the GOP full control over the government. Hardly anyone is reporting this story, even though it’s one of the most bizarre things to have happened in America during my lifetime. Perhaps this is because none of our “tribes” has an incentive to acknowledge these
Topics:
Mike Norman considers the following as important: GOP, US economy, US Politics
This could be interesting, too:
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The recovery has since picked up speed, so the deficit should be falling especially fast right now. Unfortunately, the FRED data site does not have updated figures, but the deficit is no longer falling. Indeed it’s exploding, expected to reach $1.1 trillion in 2019. Nothing like this has ever happened in America during a period of peace and prosperity. There is such a firehose of spending that Washington is hardly able to shovel dollars out the door as fast as they are being appropriated…
This is what happens when you give the GOP full control over the government.
Hardly anyone is reporting this story, even though it’s one of the most bizarre things to have happened in America during my lifetime. Perhaps this is because none of our “tribes” has an incentive to acknowledge these facts. The GOP wants to tell voters that it’s a responsible, small government, conservative party, pushing back against the deficit spending of the Obama years. The Dems want to tell voters that the GOP is a mean-spirited, small government, conservative party. Both are lying. The press plays along with this framing, because it lets the two tribes set the terms of the debate. The GOP is actually a big governmentparty. Neither the NYT nor Fox News will tell you that.…The Money Illusion
The Tea Party wonScott Sumner | Professor of Economics at Bentley University