Friday, August 22, 2008

The Death of Conservative Economic Thought

From Kevin Drum's last substantial post at Political Animal:

The palpable exhaustion of conservative economic thought really is extraordinary. The evidence has been clear for years that that, at current U.S. tax levels, neither modest cuts nor modest increases has any real effect on economic growth, but the GOP's core interest groups — rich people and corporations — want tax cuts, so that's what they continue to offer. They've simply got nothing else in the tank.

And John McCain desperately wants to be president, so he's surrendered to the flat earthers. He knows perfectly well that Grover Norquist and the Club for Growth and the cranks at the Wall Street Journal editorial page can torpedo his campaign if he doesn't pay fealty to their mindless tax cut jihadism, so fealty he pays. He's sort of a Manchurian candidate at this point, reciting the talking points in a monotone and hoping wearily that it's enough for one more trip to the well. Kinda sad, really.

What's even sadder is that these cranks could win. We just can't afford the luxury of being stupid anymore.

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