Krugman on how serious the Republicans are about the deficit.
Republicans are deeply, sincerely concerned about the budget deficit. That’s why, in unveiling their plan last week, they declared themselves willing to give ground on their traditional priorities, signaling a willingness to accept higher taxes on the wealthy and reduced defense spending as part of a deficit-reduction deal.And
Oh, wait. You mean they didn’t do anything like that? You mean that even while warning about an imminent fiscal crisis, they actually tried to cut taxes on the rich to their lowest level since 1931?
Why, you might actually think that they’re not sincerely concerned about the deficit. But that can’t be true, since they keep saying that they are.
Clearly, we need to cut taxes even further so as to balance the budget.More charts from the CBPP.