Blog

Jun 08, 2025

Why do Republicans always screw up the money?

The pattern has become so obvious and familiar that it is laughable: We’ve all seen the graph that proves my point: I mean, it’s pretty striking, right? Republicans always want to do tax cuts, no

The pattern has become so obvious and familiar that it is laughable:

We’ve all seen the graph that proves my point:

I mean, it’s pretty striking, right? Republicans always want to do tax cuts, no matter what the numbers look like.

Let me be clear: I am a Keynesian when it comes to government spending and deficits. If the economy is struggling, you increase government spending on things that reach and help the most people, even if it increases the deficit (and thus, the debt). If the economy is doing well, you try to wind down some of that spending and lower or eliminate the deficit.

What you don’t do is cut taxes for the ultra-wealthy. Why? Because you are increasing the deficit (and the debt) without having any impact on the economy and the general welfare at all. First of all, the wealthy don’t need the money. And second, you are taking money away from things that can both help more people and grow the economy.

A few notes before I get to the nub of today’s article:

And that last sentence is what today’s post is really about.

Not only are the Republicans in Washington preparing to cut healthcare and food assistance for millions of Americans; not only are they slashing budgets and staffing of agencies that make a real difference here and around the world; and not only are they doing all this to give another giant tax cut to the ultra-wealthy.

They are also about to really screw up the economy for all of us, by increasing the debt so far that servicing that debt will become the number one expense of the federal budget – thus blowing up the bond market and causing interest rates to scream into the stratosphere.

Check out these numbers and the results:

To put it bluntly, this is madness. Any responsible legislator would look at this bill and its effects on both the debt and the markets — not to mention on its effects on all of us — and say “Not no, but hell no!”

But it appears that Republicans are determined to pass this bombshell, no matter the impact. If they do, the impacts will be both immediate and long-term.

So, let’s watch the bond markets to see where interest rates go. Watch your own interest rates as well. Take note of the impacts of the slash-and-burn parts of this bill, not only on Medicaid and food stamps but also on your local schools, and the cost of college, and rural hospitals, and on and on.

And then remember: This was all done by Republicans. Who always, always, screw up the money.

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Bruce Maples has been involved in politics and activism since 2004, when he became active in the Kerry Kentucky movement. (Read the rest of his bio on the Bruce Maples Bio page in the bottom nav bar.)