Jimmy Pethokoukis has moved his blog from US News and World Report to Reuters and, in one of his first posts, he says that he disagrees with something I said on Tuesday about the politics of the deficit. His money quote:
I think the number one issue (in the 2010 election) will be only tangentially deficit related, something along the lines of “We just spend trillions in borrowed money and unemployment is still at 10 percent.”
First, I'm not sure he's really disagreeing with me. We both said the deficit will be an issue in the 2010 campaign. Actually, I said the deficit; he said the debt. But you can't have one without the other so I'm going to all it a tie.
I agree that unemployment will likely be higher than the White House would like on Election Day 2010.
Over at Capital Commerce, James Pethokoukis wants to feed the beast now so it can be starved later. He warns Republicans not to support the stumulus bill because it will make it harder for them to cut taxes later. The money quote:
The lesson of the past quarter century is that big deficits make it more likely that taxes will raised, as in 1982, 1990 and 1993.
But not, of course, 2001 - 2008.