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In reply to the discussion: Once Again, A Democratic President Cuts a Republican Deficit. Almost No One Notices. [View all]NuclearDem
(16,184 posts)You absolutely cannot cut spending during economic downturns. The only way this can be remotely interpreted as "good news" is if it's used as a talking point against the austerity Republicans who use the deficit as a weapon; if history is any indication, this won't change their minds at all.
This trend is nearly identical to the Texas Miracle, and they're both equally bullshit. Unemployment might be falling, but it all depends on the quality of jobs that are being added. Yes, more people are being employed, but when McDonald's workers in NYC have to live in homeless shelters because they can't afford the rent, that's hardly good news.
Deficits and the debt only matter to the people who aren't in power; in that case, they're very effective ways to go after whoever occupies the White House and the Congress.