McConnell brought clarity to politics yesterday. It’s rare and raises questions about his mental capacity. I’m sure there are a lot of people cringing this morning.
Ignoring the impact of the tax cuts this year on the Federal deficit, McConnell spoke yesterday about the need to cut “entitlement programs” including Social Security, Medicaid and Medicare in order to reduce the deficit. This at the same time that the House has just passed a second bill for an additional round of tax cuts.
Think about it: you increase spending on Defense and cut taxes. What the heck do you think is going to happen?
Corporations and the wealthy got millions from the tax cuts, while most consumers saw less than $250 in benefit — all of which was eaten up by health care cost increases.
Corporations used the cuts for the most part to buy back stock, raising stock prices, and not for job creation. They said before the bill passed that they weren’t going to use it for jobs, and they didn’t. Despite the hoopla about unemployment, the Labor Force Participation Rate — the most accurate statistic on employment the Federal government publishes — is flat this year. No change.
Trump told the GOP members of Congress not to raise this issue before the midterm election. McConnell jumped the gun.
By the way, Social Security is something you pay for out of paycheck deductions during your working years. How is that adding to the deficit? Or will the GOP raid the Social Security Trust Fund, as has been done in the past, to pay for government spending?
Bottom line: anyone over age 45 who votes for a GOP candidate this year is either very rich or very stupid.