Fighting Voodoo Economics

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Paul Waldman:

Watching the Sunday blabbers, I was impressed with the facility with which the Republicans switched back and forth between two entirely different, and contradictory, rationales for their position on the budget and the debt ceiling. On one hand, they’d say, we simply have to cut the deficit, which is why we need to slash spending. OK, someone would say, why won’t you accept some increase in taxes? You know, to cut the deficit? Absolutely not, they’d say — you can’t raise taxes when the economy is bad! That’s the last thing you want to do!

Paul thinks that President Obama should point out how contradictory this is. Either we need to stimulate the economy (tax cuts, spending increases) or we need to cut the deficit (tax increases, spending cuts), but it makes no sense to do half of one and half of the other.

Well, sure, if you’re a garden variety Keynesian. But if you’re a conservative, then you consider tax cuts good for growth, which helps reduce the deficit. Ditto for spending cuts, which not only reduce the deficit in the obvious way, but also result in a smaller, more growth-friendly public sector. There’s no contradiction at all in supporting both.

So the question isn’t whether Republicans are contradicting themselves. They have a theory in which they aren’t. Instead, the question is this: Can Barack Obama persuade the American public that Keynesian economics is basically correct and that Republican economics is therefore crazy? Good luck with that. Everyone loves paying less in taxes, and there’s a very big chunk of the public that also loves spending cuts as long as they’re aimed at poor people. So they have every personal incentive to buy into the GOP’s high-minded justifications for stuff they want to do anyway. And they do.

After three decades, we still haven’t figured out how to effectively fight voodoo economics. It would be nice if Obama started talking sense instead of caving in to conservative nonsense, but the problem goes way beyond just him. Suggestions welcome.

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Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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