Wednesday, August 29, 2012

Republicans: We Won’t Build That

Mark Thoma scratches his head at the Republicans' ideological hostility to building infrastructure.
If there’s any policy Republicans ought to be able to support, it’s infrastructure spending. It’s inherently a supply-side policy, it helps to promote future economic growth, and it’s an investment with large, positive net benefits. But Republicans see a “we won’t build that” approach to infrastructure spending, an approach that is harmful to our prospects for recovery and to our prospects for future economic growth, as a way to reclaim the presidency.
The Republican party really is nuts, and increasingly, serious people like Thoma just can't take anymore of it. Why now? Maybe because they finally realize it's not just a phase and the consequences for the global economy are so enormous.

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