The Deficit, Part Two...

One of the things that drives me nuts about politicians and politics is that they rarely are required to keep even a superficially consistent story. It would make so much more sense if we had on the one side those who believe that less should be privately controlled and more publicly controlled, offset by those who wish for stronger protections for private property, both balanced by the conservatives who just want to slow the pace of change and keep the status quo (and let's face it, changing for change's sake is not usually a good policy!). But instead, we get this:


In August we were treated to the spectacle of the deficit ceiling colliding with the rising deficit, and the hand-wringing of that singular (okay, so it turns out it wasn't that singular!) event: We were going to drive the country into ruin! We must cut the deficit! We must, must, must! One party in particular was driving the debate as the #1 issue facing the nation, now and into the future. We may disagree about the seriousness of the event, but they certainly can take a stand on it...

So, I would expect (especially after the collapse of the Deficit Reduction Commission - DRC) that any Republican candidate for the Presidency would continue to campaign on that idea - that the current policies followed by the current administration continue to increase the deficit and take us towards ruin. But, I am wrong.

Turns out that now candidates feel the best way to win the White House is to campaign on a promise to increase the deficit - on average by the amount the DRC was targeted to reduce: $1 trillion dollars. Say it with me: ONE TRILLION DOLLARS!

I am speechless. I'll let James Kwak tell the story:

The Times has a story out today: Surprise, all the Republican candidates’ tax plans increase the national deficit! The numbers (reduction in 2015 tax revenues, from the Tax Policy Center):

• Romney: $600 billion
• Gingrich: $1.3 trillion
• (Late lamented) Perry: $1.0 trillion
• Santorum: $1.3 trillion

*Paul is excluded, see fn1.

If I were an Independent or Democrat candidate for the Presidency, I would jump all over this (heck, if I were just an average journalist, I'd be all over this!) "Mr Candidate: Why isn't the deficit an issue any more and you feel that you are free to accelerate it's growth over the four years of your presidency if you were to be elected?" 

I have an idea why, though: Tax cuts are always popular - cutting programs is not. Sadly, though, all four candidates plans cut taxes for the rich and then wait for the resulting deficit to materialize so that they are 'forced' to cut government programss: Which usually are programs that aid the middle and lower class. You don't still doubt that we are governed by an oligarchy of the rich now, do you?

fn1: Mr Paul doesn't have a specific plan - other than to eliminate the IRS and wave his hands and hope that the reduction will be offset somehow - which leaves his plan well north of $1 trillion in deficit increase. But, he hasn't published specifics, so the Tax Policy Center can't run specifics...