{"id":26488,"date":"2019-10-26T15:48:27","date_gmt":"2019-10-26T20:48:27","guid":{"rendered":"http:\/\/huewhite.com\/umb\/?p=26488"},"modified":"2019-10-26T15:48:27","modified_gmt":"2019-10-26T20:48:27","slug":"palpable-prophetic-failure-on-the-right","status":"publish","type":"post","link":"https:\/\/huewhite.com\/umb\/2019\/10\/26\/palpable-prophetic-failure-on-the-right\/","title":{"rendered":"Palpable Prophetic Failure On The Right"},"content":{"rendered":"

A venting, nothing to see here:<\/em><\/p>\n

For evidence of the ongoing failure of GOP<\/strong><\/em> predictions and the Laffer Curve<\/em><\/a>, it’s harder to get more graphic than Steve Benen’s graph of budget deficits<\/a>:<\/p>\n

\"\"<\/a><\/p>\n

Yep, the 2019 Federal Budget Deficit grew again, by 26%<\/a>, in grievous defiance of GOP<\/strong><\/em> orders<\/del> predictions that it shrink because they cut taxes.<\/p>\n

It’s also worth savoring those Golden Clinton Years when the budget was in the black and the economy was roaring, before the spendthrift Republicans[1]<\/sup><\/a> took over in 2001 and forced it back into the red, followed by the Great Recession, caused by Republican deregulation.<\/p>\n

Now, as we near a chronic and, so far, unforced<\/em>[2]<\/sup><\/a> annual deficit of $1 trillion, we’ll be either exploring the new territory of how monstrous deficits and possible looming government defaults on the loans financing the deficit play out.<\/p>\n

But what about inflation? Here’s a chart which should remove the influence of inflation, I think:<\/p>\n