Economic Realism?

Our economy is, as economist John Mauldin often expresses it, in a "muddle-through" state. The stock market is doing quite well resulting in huge profits for most of the wealthy folks in this country. But the economy for the middle and lower classes is poor - the number of families covered by health insurance is shrinking; the number of workers covered by fixed retirement plans is shrinking; minimum wage is stagnant - even the newest increases do not keep it steady against the cost of living increases; savings rates are stagnant; home prices are falling and the number of foreclosures is rising.

But the Republican have an answer - from Crooks and Liars...

The WaPo’s Steven Pearlstein had the spot-on response to yesterday’s debate for the Republican presidential field:

To hear it from the Republican presidential hopefuls, the only way for the party to win back the trust of voters on economic issues is to start telling the truth.

Well, fellas, what are you waiting for?

Instead, for two hours yesterday, the nine white men who would be president were each peddling the Big Lie that the only way to ensure economic growth is by cutting all the taxes ever created — and when you’re finished with that, cutting them some more….

It is becoming clear, not just from this and previous debates but also from their speeches and position papers, that the leading Republican candidates aren’t serious about economic issues.