Deficits: Not So Bad, Well Republican Deficits That Is
Conservatives are known for very little, but one of things they are known for is hating the federal deficit. But not so more, at least for one prominent opinion writer, Ross Douthat in the NYT.
That low-inflation, slow-growth context prevailed under Obama; to a lesser extent it still prevails today. There will doubtless come a time when deficit scolds make essential arguments, but of late they haven’t — and when I was one of them, I now believe, I was making a mistake.
So why are we cynical here? Well it seems there is now a Republican deficit, which for conservatives is okay. And the new tax law will increase that deficit and the national debt, far above the forecasts of government analysts. So no, deficits are no longer important.
Also missing from Douthat and others is the recognition that the deficit was substantially reduced under Obama. Indeed deficit reduction has flourished under the last two Democratic Presidents while Reagan and both Bushes had major increases in the deficit when they were in power. But for conservatives none of that matters; support the party no matter reality. As for Douthat, when the deficit explodes under Trumpie he can now say, 'well I said that would not be so bad'.
Ross Douthat, closes out 2017 as NYT Hack of the Year