Must-Read: Paul Krugman: Infrastructure Delusions

Must-Read: I believe Paul Krugman is right here. It looks as though Donald Trump’s preferences are having very little effect on the policies of his own administration:

Paul Krugman: Infrastructure Delusions: “There will be no significant public investment program…

…Congressional Republicans have no interest in such a program. They’re hell-bent on depriving millions of health care and cutting taxes at the top… aren’t even talking about public investment, and would probably drag their feet…. Trump has no policy shop, nor does he show any intention of creating one; he’s too busy tweeting about perceived insults from celebrities, and he’s creating a cabinet of people who know nothing about their responsibilities. Any substantive policy actions will be devised and turned into legislation by Congressional Republicans who, again, have zero interest in a public investment program. So investors betting on a big infrastructure push are almost surely deluding themselves. We may see some conspicuous privatizations, especially if they come with naming opportunities: maybe putting in new light fixtures will let him rename Hoover Dam as Trump Dam? But little or no real investment is coming.