By William K. Black
August 2, 2018 Bloomington, MN
Peter Suderman, the managing editor at Reason.com (hard right) has published an op ed in the New York Times entitled “How Republican Hypocrisy Lifts Social Democrats.” His subtitle is “By its astoundingly cynical approach to deficits and debt, the G.O.P. has opened the door to an expansive left.” What is actually astounding is that Suderman never mentions, much less discusses; the situations in which a Nation with a sovereign currency should run deficits.
Stephanie Kelton and I have been trying hard to keep Democrats from, again, rushing into the trap of denouncing Republicans for running federal deficits. Yes, Republicans are hypocrites about debt and deficits. That does not mean that Democrats should repeat Clinton and Obama’s embrace of the Republican’s economically illiterate, harmful, and fake hysteria about debt and deficits. Suderman makes an acute observation about why Republicans pretend to embrace deficit hysteria.
Through their actions, [Republicans] have proven that they cared about the deficit primarily for its usefulness as a political cudgel, an easy way to curtail Democratic policy goals.
My ‘friendly amendment’ would remove the word “primarily” from that sentence.