Krugman Nails the Phony Debt Concern of the Republicans

Here is a post by Paul Krugman on his NY Times blog:

Phony Deficit Hawks

So, just to summarize: Republicans are deeply, deeply concerned about the budget deficit; they believe that our nation’s future is at stake.

But they’re willing to sacrifice that future, not to mention risk the good faith and credit of the federal government, rather than accept so much as a single penny of tax increases as part of a deal.

Given all that, it seems almost redundant to mention that federal tax receipts as a percentage of GDP are near a historic low:

Click to Enlarge

Federal receipts as % of GDP
So what’s it all about? The answer, of course, is that the GOP never cared about the deficit — not a bit. It has always been nothing but a club with which to beat down opposition to an ideological goal, namely the dissolution of the welfare state. They’re not interested, at all, in a genuine deficit-reduction deal if it does not serve that goal.

And everyone who has preached bipartisanship, who has called for a meeting of minds on the subject, is either a fraud or a chump.

Obama needs to call the bluff. If he continues to make concessions in the face of Republican intransigence, he fails to do his duty. He was elected to represent the people, not dance to the tune that the Republicans play.