Monday, February 20, 2017

A Twitter Thread Vol IV - Supply Side Economics 3.0

The idea that "deficits don't matter" if famously attributed to Dick Cheney quoting Ronald Reagan. This morning, a story from AXIOS indicated that Republicans are prepared to go to the supply side well for a third time (Reagan 1981, Bush 2001/2003) selling the same snake oil (or is it voodoo economics?) that a spike in production and economic growth will make up for the hole that's about to be cut into the Treasury's revenue stream. If it is true that "fool me once, shame on you, fool me twice, shame on me" what happens the third time around? 

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