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At the time that I drafted the Kemp-Roth tax bill, in 1977, the Republican Party still believed that budget deficits were evil.
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Yet the US deficit hawks -- mostly Republicans these days -- continue to believe that deficits are evil and the Fed should begin to tighten now, rather than wait for 2015 when economic growth is more sustainable.
Jews were evil.
Women were evil.
One day deficits were the great evil and we needed fiscal austerity now now now, never mind the state of the economy.
The right says that deficits are always evil (unless they're caused by tax cuts), so they assume that the center-left must favor deficits in all conditions.
In a way, I understand this: the VSPs have been pounding the drum over and over again about how deficits are bad, evil; now they are warning about a fiscal something-or-other, so how are people supposed to know that they're suddenly worried that we'll reduce the deficit too much?
And this perception took hold in the American public that deficits were the roots of all economic evils.
Budget deficits were history.
Deficits were growing.
"It is evil to spend your kids' money, spend away their future," he says about the ballooning deficit.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com