You Might Think It Was Intentional

The National Review has an article about recession and depression. It’s mostly a review of the actions of the White House and Congress over the last few years. Here’s just one part of his plan.

Seventh, gorge the beast. Try to get annual federal deficits up to the $1.3–$1.5 trillion range. Reagan tried to “starve the beast” — that is, to lower federal spending by lowering taxes. Why not do the inverse and borrow so much money, pile up so much debt, that even fiscal hawks will concede that higher taxes are necessary? It is a win/win/win/win/win proposition: Bigger deficits mean more federal spending, which means more federal employees, who will find more regulations to impose, which will cost employers more money and require higher taxes.
–Victor Davis Hanson


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