In the political world, hypocrisy knows no bounds. As I continue to listen to these self-righteous, sanctimonious, and preposterously hypocritical conservatives (and yes -- most of them are Republicans) pontificate on the horribleness, the insanity, the disastrous level of debt we are heaping upon future generations, I want to just puke. That is a technical term for abject disgust.
As I listen to New Hampshire Senator Judd Gregg lay out in great detail charts and graphs depicting the end of the world I cannot help but think how in any calculus this man could have entertained the notion of serving in President Obama's cabinet. It certainly testifies either to the man's lack of judgment or disregard for principle.
I served as a professional staff member for the U.S. Senate Budget Committee in the 1980's. I witnessed a conservative-fueled set of economic theories that came to be known as Reaganomics result in an explosion of debt. I witnessed the incredible hardships imposed on our citizens during the 1982 recession. I similarly witnessed the growing gap between rich and poor, so studiously enunciated by Kevin Phillips, a former Republican strategist, in "The Politics of Rich and Poor"(1990).
I witnessed the politically disastrous consequences of George H.W. Bush's ill-fated conservative proclamation of "read my lips, no new taxes" in 1992 in an attempt to satisfy a skeptical and intransigent conservative voter base. Had he based his campaign on a more honest and realistic assessment of the economic headwinds who knows what might have happened, but rather adhering to a political calculus he was forced to recant and face chastisement.
As a member of the Clinton Administration I witnessed economic policies that carefully and methodically wiped away budget deficits and replaced them with actual surpluses. And as one who could not stand to stay in Washington during the Dark Ages of the Dubya regime, I watched from afar as insidiously inequitable tax and spending policies drove the national debt to stratospheric heights while pushing the economy into a deep abyss. These nonsensical prescriptions led to a historic expansion of the gap between rich and poor while shrinking consumer confidence and ultimately resulted in a deregulation-led financial system collapse.
Yet despite these realities, there are those who participated in such developments with unrestrained ideological fervor who now decry the very actions that are necessary to both lessen the impacts upon our under- and unemployed and save the financial system from total collapse. There are individuals elected to serve this nation who would betray that trust placed upon them in order to thwart the implementation of difficult decisions that require they place the long-term interests of the country above their short-term politics.
Where were they when deficits and debt were increased while the economy was growing? Do they not comprehend that all debt, like all taxes, is not evil? Or is the faux-fiscal responsibility conviction merely a convenient excuse to say no when difficult political decisions require foresight and sacrifice? The hypocrisy is mind numbing.
One does not need to be an economist, nor even minimally educated to understand that difficult times require difficult decisions. Any adult should be capable of understanding that living within your means over the long-term is both wise and economically sustainable. There is a time and place for debt, and there is a time and place for government intervention, and yes there is a time and place for matching revenues with expenditures, which requires taxes. Now is not the time for political maneuvering.
Unfortunately, rigid ideological conservatives seem to have little or no appreciation for these truisms. And it is most unfortunate that the Republican Party is increasingly beholden to interests that do not conform to realities that face millions of victims of the ill-fated economic hokum that has landed us in this place.
My only hope is that you and your foolishness will fail. My wish is that you will join in helping to set the economy on the right track, put your political voodoo in a jar and do what you were elected to do: namely, represent your country and its citizens.
Federal officials represent the United States, not your district or your state. Sure there will be a time and place to promote all the good things you have done for your constituents, and Lord knows you will not allow that to pass unheeded, but right now it is critically important that we all pull together for the good of the nation and the benefits will trickle down to all of our citizens. In a very real way, consider this an opportunity to actually see the benefits of trickle-down government intervention.
The stakes are too high to continue to experiment with the worn out axioms and well validated failures of the past. We must be forward-looking and practice prudence with respect to the long-term economic health of the nation. Yes, deficit spending can be fiscally responsible. In today's economic climate, we can afford to do no less. Either get on board or get out of the way.