October 30, 2017

Hassett Pushes Back Hard Against Summers’ Attacks on Him and Trump Tax Plan

On Sunday’s Fareed Zakaria GPS show, the host peddled the long-discredited mythology that the Reagan and Bush 43 supply-side tax cuts caused annual budget deficits to explode. Zakaria interviewed former Treasury Secretary and Obama economic adviser Larry Summers and current Trump administration Council of Economic Advisers head Kevin Hassett, but he did so separately, thus teeing up Summers to go after Hassett harshly and personally. Hassett’s strong response in the interview which followed showed that letting Summers escape without debate spared the Keynesian Harvard economist from what would have been a humiliating experience.

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Fiscal 2017 Deficit Coverage Ignores Most of Obama Era, Smaller Debt Increase

A week ago Friday, the federal government reported that it ran a deficit for the fiscal year ended September 30, 2017 of $666 billion. The three major establishment press wire services failed to note that the national debt, instead of routinely rising annually by far more than reported deficits during the Obama era, rose by roughly the same amount during fiscal 2017; that the rise in the national debt was far less than the reported deficits during the first eight months of Donald Trump’s presidency; or that this year’s deficit pales in comparison to most of the Obama era.

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Monday Off-Topic (Moderated) Open Thread (103017)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

Benefit For Stanley Moore, November 5

Filed under: General,Positivity — Tom @ 12:30 am

*StanleyMoore1017SHORT VERSION: On Sunday, November 5, from 3-7 p.m., there will a benefit event to raise money to pay Stanley Moore’s leukemia- heart surgery-related medical costs at the 20th Century Theatre in Cincinnati. Please consider attending (full detail follows). Whether you can or can’t be there, please consider donating at Stanley Moore’s YouCaring.com page.

NOTE TO READERS: This post or a similar one will stay at the top of the home page until the event takes place.

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