Before the economy recovers, GOP wants to stop giving aid
You may remember all the glowing predictions made for the December 2017 tax cuts by congressional Republicans and the Trump administration: Wages would soar for the rank-and-file, corporate investments would surge, and the cuts would pay for themselves.
Incredibly, McConnell told Hewitt: “There’s not going to be any desire on the Republican side to bail out state pensions by borrowing money from future generations” — this after he arranged to borrow an estimated $2 trillion from future generations over 10 years to fund a Republican tax cut that fills the pockets of the wealthy.McConnell’s office labels requests for state and local assistance “blue state bailouts.” As we’ll see in a moment, this is exactly wrong.
Could he really believe that bankrupting states, including his own, is a good political strategy, or responsible public policy?Of course, there may be no better point in history for the U.S. government to borrow to fund a pandemic response, and much more, than today, when interest rates on federal debt are hitting rock bottom.
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