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Friday, July 20, 2018

Republicans Again Running Up Massive Fiscal Deficits

Reprinted with permission from AlterNet.

 

A popular talking point in the right-wing media—from Fox News to AM talk radio to the National Review, Townhall and the Weekly Standard—is that Republicans are the party of low taxes, small government and fiscal responsibility while Democrats are the party of “tax-and-spend liberals.” But that argument is bogus for a number of reasons. First, the modern-day Democratic Party on the whole is much more centrist than liberal or progressive (apart from liberal/progressive champions like Massachusetts Sen. Elizabeth Warren, Florida Rep. Alan Grayson and various allies of the independent Vermont Sen. Bernie Sanders). And second, fiscal responsibility is practically nonexistent in today’s Republican Party.…

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Trump’s ‘Infrastructure’ Plan Means More Military Waste

Reprinted with permission from Tomdispatch.

 

Other than shouting about building a wall on the U.S.-Mexico border, one of Donald Trump’s most frequently proclaimed promises on the 2016 campaign trail was the launching of a half-trillion-dollar plan to repair America’s crumbling infrastructure (employing large numbers of workers in the process). Eighteen months into his administration, no credible proposal for anything near that scale has been made. To the extent that the Trump administration has a plan at all for public investment, it involves pumping up Pentagon spending, not investing in roads, bridges, transportation, better Internet access, or other pressing needs of the civilian economy.…

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Much Bigger Than Harley: Trump Tariffs Threaten Auto Industry

Reprinted with permission from AlterNet.

 

As President Donald Trump’s plans to launch a trade war look increasingly likely to be carried out, American companies are increasingly sounding the alarms — showing signs that his tariffs could pose a real threat to the country and to his presidency.

It started with Harley-Davidson, which said it would be moving some of its manufacturing capacity overseas in response to the tariffs, which are import taxes. Trump lashed out at the company in response, but that does little to change its bottom line.

But the real blow came on Friday. General Motors, a major employer in the Midwest, including in the critical state of Michigan, announced that Trump’s tariffs will cause “less investment, fewer jobs and lower wages” for employees and higher prices for customers.…

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