“Deficit Reduction” in Plain English

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


David Leonhardt complains that the business community likes to talk big about how damaging the deficit is, but in practice lobbies extensively for policies that would increase the deficit. Even the Business Roundtable, a supposedly moderate business group, lobbies for lower tax rates, more loopholes, and increased spending on stuff it cares about:

It’s easy to look at the squabbling politicians in Washington and decide that they are the cause of the country’s huge looming budget deficit. Certainly, they deserve some blame. The larger problem, though, is what you might call roundtable syndrome.

In short, there isn’t much of a constituency for deficit reduction. Sure, plenty of people and special-interest groups say that they are deeply worried about the deficit. But they are not lobbying for specific spending cuts or tax increases. They aren’t marshaling their resources to defend politicians who take tough stands, like President Obama’s 2009 Medicare cuts or Rand Paul’s proposed military cuts.

Well, look: business groups learned long ago that they no longer had to compromise. In 1986 they managed — barely — to support an agreement to remove lots of tax loopholes in return for lower corporate tax rates, but that was the last gasp of a dying era. Since then, the Republican Party, with an ever-growing assist from a newly corporatized Democratic Party, has made it clear that this kind of deal is no longer necessary. The business community can get lower rates and more loopholes, and once they get them they’ll never have to give them back.

It’s hardly a revelation that people prefer to raise taxes and reduce spending only on other people. Take taxes off the table, as they have been, and that leaves only spending cuts on others. In our current political environment, “others” means not businesses and not the elderly and not the middle class. By elimination, it means spending cuts on programs for the young and the poor, which is exactly what the Republican base has bent all its energies toward for the past 40 years. Here it is in terms everyone can understand:

“Deficit reduction” = spending cuts on social programs for the young and the poor.

Republicans don’t want to cut the deficit. They want to cut liberal social programs. Anyone who continues not to understand this is simply being willfully ignorant.

WE CAME UP SHORT.

We just wrapped up a shorter-than-normal, urgent-as-ever fundraising drive and we came up about $45,000 short of our $300,000 goal.

That means we're going to have upwards of $350,000, maybe more, to raise in online donations between now and June 30, when our fiscal year ends and we have to get to break-even. And even though there's zero cushion to miss the mark, we won't be all that in your face about our fundraising again until June.

So we urgently need this specific ask, what you're reading right now, to start bringing in more donations than it ever has. The reality, for these next few months and next few years, is that we have to start finding ways to grow our online supporter base in a big way—and we're optimistic we can keep making real headway by being real with you about this.

Because the bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we hope you might consider pitching in before moving on to whatever it is you're about to do next. We really need to see if we'll be able to raise more with this real estate on a daily basis than we have been, so we're hoping to see a promising start.

payment methods

WE CAME UP SHORT.

We just wrapped up a shorter-than-normal, urgent-as-ever fundraising drive and we came up about $45,000 short of our $300,000 goal.

That means we're going to have upwards of $350,000, maybe more, to raise in online donations between now and June 30, when our fiscal year ends and we have to get to break-even. And even though there's zero cushion to miss the mark, we won't be all that in your face about our fundraising again until June.

So we urgently need this specific ask, what you're reading right now, to start bringing in more donations than it ever has. The reality, for these next few months and next few years, is that we have to start finding ways to grow our online supporter base in a big way—and we're optimistic we can keep making real headway by being real with you about this.

Because the bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we hope you might consider pitching in before moving on to whatever it is you're about to do next. We really need to see if we'll be able to raise more with this real estate on a daily basis than we have been, so we're hoping to see a promising start.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate