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To quote economist Brad Delong: "... tax cuts created a half decade of deficit, boosting need for government debt which attracted foreign capital and helping to
by matthewdgreen 3y ago
To quote economist Brad Delong: "... tax cuts created a half decade of deficit, boosting need for government debt which attracted foreign capital and helping to send a false signal to Midwest manufacturers to shrink starting the hollowing out of what became Rust Belt."
I think in the long term (and maybe short term) we will live to regret this error.
- psychlops 3y agoI don't understand this quote without more context. Five years of tax cut cycles does not seem abnormal, nor does it explain why only Midwest manufacturers received a (false) signal.