Should-Read: Stan Collender: GOP Tax Bill Is The End Of All Economic Sanity In Washington

Should-Read: Stan Collender: GOP Tax Bill Is The End Of All Economic Sanity In Washington: “The GOP tax bill will increase the federal deficit by $2 trillion or more over the next decade (the official estimates of $1.5 trillion hide the real amount with a witches’ brew of gimmicks and outright lies)…

…The GOP’s insanity is compounded by its moving ahead without having any idea of what this policy will actually do to the economy. The debates… took place before the Congressional Budget Office’s analysis and, if it really exists, the constantly-promised-but-never-seen report from the Treasury on the economics of this tax bill…. The GOP tax bill may be enacted without anyone who votes for it having any understanding of the damage it could do…. On top of everything else, there is no reason to rush this debate….

If the GOP tax bill is enacted, Congress and the president this year will give up almost all ability to deal with the U.S. economy for at least a decade even when, as almost certainly will happen, there’s a downturn. No one else will be able to fulfill this role. That’s almost a textbook definition of economic insanity…