Paul Krugman+ Your Authors @paulkrugman Nobel laureate. Op-Ed columnist, @nytopinion. Author, “The Return of Depression Economics,” “The Great Unraveling,” "Arguing With Zombies," + more. Jul. 29, 2020 1 min read + Your Authors

Gag me with a silver spoon. If there's one thing we've learned over the past decade, it is that there are no Republican deficit hawks — only poseurs who claim to care about deficits in order to block spending they don't like 1/ 

Nobody — nobody — in the party blinked an eye when Trump's tax cuts for corporations and the rich led to surging deficits 2/

And the hypocrisy over supposed subsidization of blue states is thick enough to cut with a knife 3/

Red states in general, and Florida in particular, are hugely subsidized by blue states, especially New York. State federal balances of payments: 4/

And in the aftermath of the 2008 crisis, when Florida was hit especially hard by the bursting of its housing bubble, the state effectively received huge aid from the feds 5/ 

So when Republicans say that they're deficit hawks, they really mean that they don't want to spend money on people in distress, unless those people were rich to begin with. It's long past time for the media to stop taking their posturing seriously 6/

You can follow @paulkrugman.


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