Quote of the Day: The Bane of the Magic Asterisk


Brad DeLong on the debasement of budget policy since the Reagan era:

Ever since the start of 1981 and the miseducation of David Stockman, the bane of a sensible American fiscal policy has most often been the magic asterisk: the implicit claim that some policy that the politician dares not name or some magical Budget Fairy will fly down from above and make everything OK. When this magic asterisk is found, by my guess 90% of the time it is in budget “plans” from Republicans—but a good 10% of the time it is found in plans from Democrats (yes, Bill Clinton, Al Gore, and Gene Sperling, I am looking at you).

This has reached its zenith in the budget “plans” of Paul Ryan and his fellow tea partiers. I can’t remember the last time I saw a budget plan from a Republican that was even remotely honest.

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

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