Monday, February 8, 2016

Paul Krugman article on "Foxification" of the GOP (NYT)

"Mr. Rubio’s inability to do anything besides repeat canned talking points was startling. Worse, it was funny, which means that it has gone viral. And it reinforced the narrative that he is nothing but an empty suit. But really, isn’t everyone in his party doing pretty much the same thing, if not so conspicuously? The truth is that the whole G.O.P. seems stuck in a time loop, saying and doing the same things over and over. And unlike Bill Murray’s character in the movie “Groundhog Day,” Republicans show no sign of learning anything from experience.

Think about the doctrines every Republican politician now needs to endorse, on pain of excommunication. First, there’s the ritual denunciation of Obamacare as a terrible, very bad, no good, job-killing law. Did I mention that it kills jobs? Strange to say, this line hasn’t changed at all despite the fact that we’ve gained 5.7 million private-sector jobs since January 2014, which is when the Affordable Care Act went into full effect. Then there’s the assertion that taxing the rich has terrible effects on economic growth, and conversely that tax cuts at the top can be counted on to produce an economic miracle. This doctrine was tested more than two decades ago, when Bill Clinton raised tax rates on high incomes; Republicans predicted disaster, but what we got was the economy’s best run since the 1960s. It was tested again when George W. Bush cut taxes on the wealthy; Republicans predicted a “Bush boom,” but actually got a lackluster expansion followed by the worst slump since the Great Depression. And it got tested a third time after President Obama won re-election, and tax rates at the top went up substantially; since then we’ve gained eight million private-sector jobs.

Oh, and there’s also the spectacular failure of the Kansas experiment, where huge tax cuts have created a budget crisis without delivering any hint of the promised economic miracle."

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