When asked whether the president was going to address the ballooning federal deficit in his state of the union address, the president’s chief of staff said “nobody cares.” And he’s apparently right: nobody cares about the deficit, including all of those Republicans who used to feign concern.
Nonetheless, when Democrats take control of the White House, whenever that might be, expect the phony Republicans (pardon the redundancy) once again to feign concern over the deficit as a reason to oppose the president’s spending proposals. That’s the game they play. And it seems to work, at least with the gullible voters who delude themselves into thinking either party is fiscally responsible.
Of course, if the MMT (modern monetary theory) proponents are right, then perhaps the deficit doesn’t matter. Until it does. Until inflation is fueled and the currency debased. When would that happen? Your guess is as good as mine. My best guess is, we’ll learn from experience. The hard way.
In the meantime, don’t fall for the fake concerns Republican lawmakers throw our way from time to time. Fake concerns are every bit as bad as fake news, maybe worse.