Hartmann: "They Blew Up the Debt, Stalled America's Future, and Stuck You With the Bill"

[CousinIT]

https://hartmannreport.com/p/they-blew-up-the-debt-stalled-americas-f86

. . .

It all started in the 1970s when Republican strategist Jude Wanniski noted that Republicans were viewed as Grinches while Democrats — who’d brought the people the minimum wage, Social Security, Medicare, Medicaid, free college, and dozens of other popular programs — were viewed as Santas.

His solution was twofold: have Republicans become the “tax-cut Santas” while forcing Democrats to “shoot their own Santa” in the face by cutting back on those gift-like programs.

. . .

It has two parts:

1. When a Republican is in the White House, spend money like a drunken sailor, running up the debt as hard and fast as possible. All this deficit spending on the national credit card also produces “good times” by stimulating the economy like crazy, making Americans think Republicans are good with economics when in fact they’re only good at spending borrowed money.

2. When a Democrat is in the White House, start screaming about the debt and how “our children will have to pay for this!!!” to force that president and the Democrats in Congress to “shoot” their own social programs by cutting them back, producing hard times and reducing the deficits. . . .

[dalton99a]

1. Kick

[sakabatou]

2. K&R

It didn't start in the 70s. It started with Nixon.

[multigraincracker]

3. Smoke and mirrors

[JustAnotherGen]

4. And disenfranchised

Black Americans. Sent us back to 1877.

[CousinIT]

6. Yep. Absolutely true.

Talked to a faculty colleague today. He and his wife have property in Canada. He's retiring soon, and they're leaving. He said he knows things are getting worse in the US and won't be improving anytime soon.

I'm trying to navigate retirement in this now-shithole country too. It's scary as hell and extremely difficult. Try budgeting for a 30% monthly increase in basic costs on a fixed income.

Pfft. Unfortunately, I have no property, friends, or family in Canada, or I'd go too.

[bucolic_frolic]

5. Now GOP funnels Multi-Trillions to corporations

AI will bankrupt us all. Finance analysts say some of these AI tech companies are betting their entire company on making AI profitable. They can't all be profitable. I'd bet none of them will be profitable. Common to see $150 billion bets on AI. That's like more than a decade of profits for these companies. Loading themselves with debt.

A comparison I saw recently ... when frequent flyer miles were introduced to airlines, everyone thought it was great. Companies saw a way to steal competitors most envied travelers, those who often flew first class. But in the end, it didn't deliver for the airlines because they all did it. There was no competitive advantage to frequent flyer miles. You did it to compete, not to make money.

Sound like AI? If every company has it, can they grab market share and charge customers? Won't those AI companies who fall behind cut prices?

So in the end .... red ink! This is the way you defeat AI.

[Wicked Blue]

7. If only the MAGAts would read this article

and wake the f up.

[Nixie]

8. We knew all this years ago, and this was all predictable.

Which is why diminishing Democrats up for election has had such negative consequences. Handing Republicans even more power is always dumb and always disastrous.

But it’s good to see platforms like Hartmann’s point fingers where they belong — at the actually corrupt Republicans.

[betsuni]

9. Yes. Republicans are the reason for dysfunction and corruption in government. Don't help them!

Don't need fiction calling Democrats supply-side trickle down economy neoliberals. It's not true. Do Democrats cut taxes for the 1%, privatize and deregulate and defund government? NO. It's so frustrating.