Former chief economist to Vice President Joe Biden, Jared Bernstein claims Republicans are hypocrites about the federal budget deficit, pretending to care when the Democrats hold power, shrugging it off when Republicans pass tax cuts for the wealthy. The truth is Republican elites haven’t cared about the deficit for decades, Democrats would do well to do the same and stop claiming to be the Party that “really cares” about the deficit. That politically attractive pose is not simply dishonest and financially illiterate, it is also a trap.
We are at a critical stage in the ‘end-game’ of a monetary system in desperate need of reform, but the government has neither the stomach nor the spine for the job. So instead Uncle Sam is coming after your taxes. Mark GB on why growth and progress is about to run off a cliff.