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  • WEDNESDAY FEBRUARY 11 2004 6:13 PM

Who Believes What About the US Budget?

As questions about who believed what about Iraqi WMDs prior to the war continue to fly around, questions are also flying around about who believes what about the state of American government finances.

Brad DeLong, Berkeley economics professor and former Assistant Secretary at the United States Treasury, has been a consistent critic of Bush administration economic policy. Now he's wondering who actually believes what about it.

First, DeLong marvels as he notes various economics commentators from the right (including Bruce Bartlett!) who are starting to sound the warning of impending tax increases in the face of unsustainable spending.

Second, he wants to know what the economists who signed last year's open letter in support of Bush's economic program think of it now. He's keeping an eye on what the signatories are saying -- and not saying -- about the budget situation. Many of them aren't saying anything, and the well-credentialed chair of the Council of Economic Advisers, Harvard's Greg Mankiw, is being rather vague.

Third, DeLong wants to know what Bush himself believes. Does Bush believe advisors who have convinced him that his deficit reduction strategy is on track? Or is Bush getting realistic advice and doesn't care enough about it to acknowledge the grim reality publicly? DeLong finds neither of those two possibilities reassuring.

 
Comments
Sonntag

Sonntag

Atlanta, GA
August 2003

FEB 11, 2004 06:27 PM

The latest issue of Mother Jones has an interesting piece on Grover Norquist. He heads the psycho-Libertarian group "Americans for Tax Reform." Effectively, their project is to bankrupt government to get rid of government.