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Old 03-22-2020, 11:17 PM
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septimus is offline
Join Date: Dec 2009
Location: the Land of Smiles
Posts: 21,474
With kickbacks planned in response to the covid-19 crisis, the 2020 deficit will be the biggest ever. Moving forward, severe austerity would be required to get deficits back to even the 2015 level. Austerity that would plunge the country into depression.

Forget the ambitious proposals of Sanders or Warren; the debt will continue to grow under more modest programs like Biden's. After GOP governments over the last 40 years have funneled trillions to the super-rich, are we to say that there's no more money left for schoolchildren? for the poor? for the unemployed or uninsured? Restoring American society and its economy must be the first priority. It would be gross dereliction of duty to focus on deficit reduction any time soon. Ronald Reagan, Dick Cheney, and MMT all agree that "deficits don't matter." At this point we must just hope they're right.

When America recovers from the covid-19 crisis, the devastation left in its wake should be a big wake-up call. We can't hope for GOP voters to come out of their coma of ideology and bigotry, but the rest of us should be newly energized and ready to move forward boldly.