Republicans Have No Other Ideas

Jonathan Chait: “The last time Republicans had control of government, they explained that cutting taxes would not get in the way of fiscal responsibility. Not only would tax cuts produce faster growth, they argued, they would also force Congress to restrain spending. Their strategy utterly failed. Not only did the tax cuts fail to produce higher growth, they also failed to encourage spending restraint…”

“And so there they are, back to the exact same policy they tried in 2001: Pass a huge tax cut and hope somehow it leads to cutting spending. That this policy is now being carried out by the same people who rose to power by denouncing the failure of the exact same policy last time tells you everything you need to know about the state of economic policy thought in the Republican Party now.”