Leading Senate Democrat Richard Blumenthal of Connecticut noted that Republicans were “ramming” the complex tax bill through Congress and that it could harm national defense while driving up the deficit.
Appearing on CNN, Blumenthal said:
It does, in fact . . . tilt the benefits in favor of the wealthiest and corporations,and more egregiously, it creates trillions of dollars in debt for our children and our grandchildren. It threatens our national defense. Mke Mullen, former Chairman of the Joint Chiefs of Staff, once said, famously, that the biggest threat to our national security is our national debt, because it undermines our ability to acquire those weapons systems and train young men and women for our military.’ It also undermines Medicare, potentially, and Social Security.
Now please, Blumenthal, spare us the crocodile tears about the military and the debt, which Barack Obama and the Democrats have done more to undermine tham anyone. But how wrong is Blumenthal? I don’t know, are you excited about this tax cut? I’m not particularly thrilled. Do we need it so badly?
Even conservative economists will tell you that tax cuts do not completely “pay for themselves.” And the deficits will get run up before the “feedback” of revenues occurs, harming our ability to pay for increased defense, which we need now. And whatever the economic benefits, in an era when Republicans and independents just sent a reformer to the White House who was supposed to “drain the swamp,” this tax cut is filled with big and little benefits for corporate lobbyists who are the ones that fill the swamp.
One nice feature is that it somewhat stealthily destroys Obamacare by eliminating the individual mandate. That might be worth the price of admission.