"The GOP's Bad Idea"
Ezra Klein reacts to the GOP's 'Pledge to America':
The GOP's bad idea, by Ezra Klein: ...Their policy agenda is detailed and specific -- a decision they will almost certainly come to regret. Because when you get past the adjectives and soaring language, the talk of inalienable rights and constitutional guarantees, you're left with a set of hard promises that will increase the deficit by trillions of dollars, take health-care insurance away from tens of millions of people, create a level of policy uncertainty businesses have never previously known, and suck demand out of an economy that's already got too little of it.
You're also left with a difficult question: What, exactly, does the Republican Party believe? The document speaks constantly and eloquently of the dangers of debt -- but offers a raft of proposals that would sharply increase it. ... It says that "small business must have certainty that the rules won't change every few months" and then promises to change all the rules that the Obama administration has passed in recent months. It is a document with a clear theory of what has gone wrong -- debt, policy uncertainty, and too much government -- and a solid promise to make most of it worse. ...
I reacted to Republican plans a few days ago:
There don't seem to be any new ideas here, just a promise to undo what's been done since the Republicans lost power. Why would we want to return to the policies that brought us a stagnant middle class even in the best of times, widening inequality, out of control financial markets, the biggest recession in recent memory, declining rates of health care coverage, threats to Social Security and to social insurance more generally, tax policies that reinforce trends in inequality and create big holes in the budget (amid false claims that tax cuts more than pay for themselves), and two wars whose total costs to the nation go far beyond the large budgetary costs that have brought programs such as Social Security and Medicare -- programs vital to middle and low income households -- under increasing financial pressure?
Posted by Mark Thoma on Thursday, September 23, 2010 at 12:50 AM in Economics, Politics |
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