By Paul Krugman
Feb. 11, 2019
Deficit scolds were mute in 2017 when the Democratic congressional leaders Chuck Schumer and Nancy Pelosi fought the Republican tax cuts.
Tom Brenner/The New York Times
Deficit scolds were mute in 2017 when the Democratic congressional leaders Chuck Schumer and Nancy Pelosi fought the Republican tax cuts. CreditCreditTom Brenner/The New York Times
Much of Donald Trump’s State of the Union address was devoted to describing the menaces he claims face America — mainly the menace of scary brown people, but also the menace of socialism. And there has been a lot of discussion in the news media of what he said on those topics.
There has, however, been little coverage of one of the most revealing aspects of the SOTU: what Trump said about the menace of America’s historically large government debt.
But wait, you may object — he didn’t say anything about debt. Indeed he didn’t — not one word. But that’s what was so revealing.
After all, Republicans spent the entire Obama administration inveighing constantly about the dangers of debt, warning that America faced a looming crisis unless deficits were drastically reduced. Now that they’re in power, however — and with the deficit surging thanks to a huge tax cut for corporations and the rich — they’ve totally dropped the subject.”