The Myth Of GOP Fiscal Responsibility

Somehow, ever since the 1980s, Republicans have managed to pull off this scam where they have always been treated as the party that believed in fiscal discipline. Yes, they always talk about balanced budgets and “living within our means”, especially when Democrats are in power. But their actions have always spoken more loudly than their words – and those actions show the exact opposite. Ronald Reagan blasted Jimmy Carter for nearly doubling the budget deficit and slightly increasing our national debt. And then Reagan went out and, via massive tax cuts, added more debt than any other President from World War II until the financial crisis in 2008, more than tripling it. G. H. W. Bush was virtually abandoned by his own Republican party for raising taxes in an attempt to staunch the red ink that Reagan created. George W. Bush inherited a budget surplus from Bill Clinton and a national debt that had basically flat-lined for the prior 3 years. All of a sudden, the Republican line went from “we’re bankrupting our children and grandchildren” to “it’s your money – you should be able to keep it.” For Bush, the national debt was no reason not to offer more massive tax cuts that nearly doubled the national debt in his eight years in office. And he left the greatest financial crisis since the Great Depression which only added to that debt long after he left office.

So the myth of Republican fiscal responsibility is exact that – a myth. What is more surprising is how that mind-set has apparently filtered down to the individuals within the party. Donald Trump has left a massive trail of unpaid bills and frivolous legal actions to avoid paying what he owed. And on Friday, Newt Gingrich, that paragon of virtue and author of the Contract With America that called for a balanced budget amendment, reached a final debt settlement to terminal his unsuccessful 2012 Presidential election campaign. And the settlement basically consisted of paying nothing to 144 debtors that were owed a combined total of $4.6 million. The really disgusting part of this is that Newt probably has the means to pay these debts off if he really wanted to either through sales of another book or speaking fees. But apparently he can’t be bothered to do so. When it comes to fiscal responsibility and paying his own bills, Newt’s actions speak for louder than his words. And the same holds true for the party Gingrich belongs to.