Do the *&($#*^ math: Rightwing obstructionists are a bigger problem than debt and deficits

Credibility, Chutzpah and Debt – NYTimes.com

[T]here is no reason to take Friday’s downgrade of America seriously. These are the last people whose judgment we should trust.

And yet America does have big problems.

These problems have very little to do with short-term or even medium-term budget arithmetic. The U.S. government is having no trouble borrowing to cover its current deficit. It’s true that we’re building up debt, on which we’ll eventually have to pay interest. But if you actually do the math, instead of intoning big numbers in your best Dr. Evil voice, you discover that even very large deficits over the next few years will have remarkably little impact on U.S. fiscal sustainability.

No, what makes America look unreliable isn’t budget math, it’s politics. And please, let’s not have the usual declarations that both sides are at fault. Our problems are almost entirely one-sided — specifically, they’re caused by the rise of an extremist right that is prepared to create repeated crises rather than give an inch on its demands.

The truth is that as far as the straight economics goes, America’s long-run fiscal problems shouldn’t be all that hard to fix. It’s true that an aging population and rising health care costs will, under current policies, push spending up faster than tax receipts. But the United States has far higher health costs than any other advanced country, and very low taxes by international standards. If we could move even part way toward international norms on both these fronts, our budget problems would be solved.

So why can’t we do that? Because we have a powerful political movement in this country that screamed “death panels” in the face of modest efforts to use Medicare funds more effectively, and preferred to risk financial catastrophe rather than agree to even a penny in additional revenues.

The real question facing America, even in purely fiscal terms, isn’t whether we’ll trim a trillion here or a trillion there from deficits. It is whether the extremists now blocking any kind of responsible policy can be defeated and marginalized.

 


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One comment on “Do the *&($#*^ math: Rightwing obstructionists are a bigger problem than debt and deficits

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  1. This writer totally gets it. I think there’s another layer, however. Behind the “extremists now blocking any kind of responsible policy” are the multi-billionaires who will profit from all this and be on Fiji by the time any sizable number of us who understand organize in any way to do anything about it. Remember what the astro-physicist on Mahr’s show said: A trillion one dollar bills piled one on top of the other would stretch to the moon and back 4 times.

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TV pundits and op-ed writers of every major newspaper epitomize how the Democratic establishment has already reached a consensus: the 2020 nominee must be a centrist, a Joe Biden, Cory Booker or Kamala Harris–type, preferably. They say that Joe Biden should "run because [his] populist image fits the Democrats’ most successful political strategy of the past generation" (David Leonhardt, New York Times), and though Biden "would be far from an ideal president," he "looks most like the person who could beat Trump" (David Ignatius, Washington Post). Likewise, the same elite pundit class is working overtime to torpedo left-Democratic candidates like Sanders.

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The reason is that nominating centrist Democrats who don't speak to class issues will result in a great swathe of voters simply not voting. Conversely, right-wing candidates who speak to class issues, but who do so by harnessing a false consciousness — i.e. blaming immigrants and minorities for capitalism's ills, rather than capitalists — will win those same voters who would have voted for a more class-conscious left candidate. Piketty calls this a "bifurcated" voting situation, meaning many voters will connect either with far-right xenophobic nationalists or left-egalitarian internationalists, but perhaps nothing in-between.

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