I think, in the end, what is so depressing is how substance free this debate was. No mention of Obamacare, no mention of reforming entitlements, no mention of cutting government spending, or no mention of how Clinton’s minimum wage and paid family leaves would make the labor market even more rigid than it already is. The truth unfortunately is that neither candidates want to reform entitlements. Even though Trump talked about our huge debt, he won’t touch the driver of our future debt, Social Security, Medicaid, Medicare and Obamacare subsidies. Both of them have talked about raising the minimum wage, and we know that neither of them have a good solution for Obamacare. And both of them are awful on trade.Emphasis added. Trump had his soundbite about doubling the national debt but both candidates are talking about record levels of spending on top of soaring mandatory spending on entitlements and debt service.
Overall, this election continues to be substance free. It continues to be a choice between two very unpopular candidates. It continues to be a choice between big and bigger government.
Tuesday, September 27, 2016
We are deep in debt
Here's a favorite of mine, Veronique De Rugy on last night's debate and the rest of the election season: