Here at the Central Standard Times we write our Friday posts on Thursday and then take a couple days off from the news, but since then the Republican majorities in the House and Senate passed a $400 billion spending bill that suspended the national debt limit for two whole years and Republican President Donald Trump quickly signed it. Being the grumpy old-fashioned Republican sorts that we are, we spent much of the weekend grousing about it.
The deal includes a couple of hundred billion bucks to bolster America’s military, and while we’re generally in favor of that we have our worries about what the failed casino mogul who is currently Commander in Chief might do with it. The other couple of hundred billion bucks goes to various and usually counterproductive Democratic bleeding-heart programs, and although we’re generally opposed to such nonsense we’ll hold out hope it at least temporarily placates them. The deal at least keeps the government running for another couple of years, which our old-fashioned Republicans sensibilities suppose has some benefit, and it puts off that messy illegal immigration for another few days, which gives us a few days off from worry about that, but it does so with an enormous swelling of the federal deficit, which we cannot abide without becoming craven hypocrites.
The big Republican tax-cut bill that was all the big news a few news cycles ago might yet bolster economic growth enough to result in a net increase in tax revenues — and that corporate tax cut seems especially promising — but in the meantime it’s going to add a few hundred billion of decreased revenues to the added $400 billion in spending and result in one of those trillion dollar deficits last seen in the darkest days of the early administration of President Barack Obama. Those eye-popping digits inspired the Tea Party revolt in the Republican party, which wound up wresting control of the House and then the Senate and ultimately resorting the fiscal sanity of the mere half-trillion dollar deficits of the President George W. Bush year, but since then the party has changed.
Trump ran on on extravagant promises that with his managerial genius he could wipe out America’s $20 national debt within eight years, and offered his own several successful business bankruptcies as proof, but he also promised not to touch the entitlement programs that are mostly driving America’s debt, and far more than all that cold-hearted military spending or bleeding-heart domestic programs. Somehow most of the Tea Party types who hated those establishment Republicans who’d tolerated Bush’s half-trillion dollar deficits bought into Trump’s anti-establishmentarian rhetoric, after that even such stalwart establishment types as Senate Majority Leader Mitch McConnell and the once-redoubtable House Speaker Paul Ryan willingly went along with the next trillion dollar deficit, and at this point we figure were among the very last of those old-fashioned Republicans who are dismayed by it all.
Our own Republicanism goes back to good ol’ President Dwight D. Eisenhower and his obsessively budget-balancing ways, and oh how we still like our fellow Kansan Ike, but we also remember when the wage-and-price-controlling President Richard Nixon proclaimed that “we’re all Keynesians now,” and even after such long experience none of the current Republican policies make any sense. It seems clearer than ever that America’s finances should be on more solid ground than a Trump casino and strip club, and the latest budget deal doesn’t make any sense even according to the convoluted but occasionally useful thinking of John Maynard Keynes. Trump continually boasts of the low unemployment rate and high growth of the overall economy he has wrought in a mere year, yet insists on a double amphetamine injection of tax cuts and a trillion dollars of stimulative tax spending, which has lately legitimate inflation concerns that have scared the Federal Reserve Board into threatening interest hikes that have lately spooked the stock markets that Trump was recently bragging about. When the next inevitable recession comes around, and we hope it’s later rather than sooner, it will be a more indebted federal treasury that is called on to bail it out.
Kentucky’s Republican Sen. Rand Paul called his party out on its hypocrisy, and even managed to shut the government partially down for a few inconvenient moments while doing so, and there’s somewhere between 20 and 30 Republican House members in the “Freedom Caucus” that sprang from the “Tea Party” movement who also resisted, so God bless ’em for their stupid and futile gesture. The putative Republican yet anti-establishment president and the rest of the party, including such erstwhile establishment types as McConnell and Ryan, were all on board. The Republican party also seems wavering from long held positions on wife-beating and cheating with porn stars and and dissing the federal law enforcement and intelligence agencies, which also bodes ill to our old-fashioned Republican sensibilities.
Of course those darned Democrats and their profligate bleeding-heart ways aren’t helping the fiscal and general economic things at all. Say what you want about that budget-busting deal to avert another so-what government shutdown, we’ll wager you’ll get more bang for your buck out of that couple hundred billion spent on defense than you will out of that couple hundred billion spent on social programs. The current Democratic indignation about Republican deficit spending is at least as hypocritical as the past Republican indignation about Democratic profligacy, and offers no solution to the problem.
Ah, well. We had a heartening church service on Sunday, and hold out hope that despite all those newfangled Republicans and forever darned Democrats the rest of us will somehow work this out.
— Bud Norman