Back at It

During the Obama years, I was continually scolded by my Republican friends who would say that "Bush is gone" and "the current economy is Obama's responsibility." "If Obama didn't want to be in charge, he shouldn't have run."

Generally, these scoldings would come after I point out such inconvenient truths as:

• W, not Obama or Clinton, was president on 9/11
• W inherited a budget surplus and left trillion dollar deficits to his successor
• W's successor was Obama . . . he had trillion dollar deficits on his first day in office

I also thought that it was the worst idea imaginable to demand austerity during a recession. 

Did we learn nothing from the Great Depression? 

I argue with my "conservative" (i.e. "Republican") friends all the time about what ended the Great Depression. I insist it was a combination of the New Deal and WWII; my Republican friends refuse to credit FDR or government with success, ever insist that it was solely WWII. 

Whether I'm right or they are, however, it is clear that it was government spending that brought this country out of the Great Depression. With that in mind, I was incredulous that they would then demand that the government cut, not increase, spending during a recession. I could go on and on about Keynesian theory, but I'll save that for another day.

Today, I want to talk about bad faith, cynical argumentation. I always want to impute good faith to my counterparts in any argument, particularly one about our great nation. However, when I saw profligate spending and tax cutting for 8 years, from 2001 - 2009, a HUGE recession in early 2009, and subsequent demands to cut spending thereafter, I couldn't help but question the good faith of the demands for spending cuts. 

If only there was a way for me to figure out whether the concerns over deficits were sincere or not. I wonder what would happen if the people who were demanding that spending be cut during a recession (i.e. 2009-2013 or so) were given full power during a fairly strong economy (say, in 2016 or so). Would they cut spending, raise taxes, and close the spending deficit?  

Unless you've been living under a rock for the past 20 years, I think you know the answer to that:

the real test came after 2016. A complete cynic might have expected economists who denounced budget deficits and easy money under a Democrat to suddenly reverse position under a Republican president.

And that total cynic would have been exactly right. After years of hysteria about the evils of debt, establishment Republican economists enthusiastically endorsed a budget-busting tax cut. After denouncing easy-money policies when unemployment was sky-high, some echoed Trump’s demands for low interest rates with unemployment under 4 percent — and the rest remained conspicuously silent.

Huh. Well, you  know what they say: Fool me once, shame on you; fool me twice, shame on me. I think the real problem, for at least a generation, is that now nobody will take anyone's deficit concerns seriously.

Where's the tea party? Either it was a reaction to a black president and its participants are now walking around in red "Make America Great Again" hats or they have disappeared from the political scene, fully aware that their ideals have been sold out.