Today, New York Times columnist Paul Krugman had an excellent column that made an important point.
There is a double standard in the media when it comes to the economy. When Democrats propose new programs to help people, the media uses Republican talking points to scream, “How are you going to pay for it?”
When Democrats are in office, the media also uses Republican talking points to howl about the deficits. Every time Democrats marginally increase deficits – even when it’s actually needed to boost the economy – it’s the apocalypse and the collapse of the nation is upon us. We can all remember the wailing by former House Speaker Paul Ryan about runaway spending.
But Republicans are a bunch hypocrites who don’t give a damn about spending on the nation’s credit card – as long as the spending benefits the wealthy and well-connected.
As Krugman pints out: the federal budget deficit just hit $1 trillion . That’s about $300 billion more due to the Trump tax cut. According to Krugman: The budget deficit has now soared back roughly to where it was in 2012, when the unemployment rate was more than twice its current level, and the economy desperately needed deficit spending to sustain demand.
So, where the hell are all the Republicans who were so sanctimonious about deficits during the Obama years?
Furthermore, the when the Democrats spend, it helps all people. When the Republicans spend, rich people – who are far fewer – are primarily the beneficiaries.
It’s time for the media to get its act together and start holding Republicans accountable for their lies and hypocrisy. The Republican Party is a scam where the greedy steal from the needy. It’s a financial redistribution scheme, that funnels money upward from the people to the powerful and from workers to the wealthy.
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