Monday, June 9, 2014

Mourdock: US Going the Way of Nazi Germany

Republican state treasurer Richard Mourdock has a gift for saying offensive things that upset people, as when he famously said that when a woman becomes pregnant by rape “it is something that God intended.” Now, in what we can only hope is his swan song in public life, he has insisted to the State Republican convention that the US is headed towards become a Fascist state because of its state of "bankruptcy." He set up a lengthy analogy to the Nazi takeover of Germany. Many were offended, including some Republicans. But how did the audience at the Republican convention receive his remarks? With a standing ovation. Read more about Mourdock's remarks here.

John Krull of Franklin College notes that Mourdock is wrong about most every point he makes, including that Hitler was elected into office by the German people. But more importantly he is wrong about the US fiscal condition:

The U.S. government’s debt as a percentage of the nation’s gross domestic product has begun to decline – and even at its peak was below the debt-to-GDP ratios of most other developed nations, including Japan, Great Britain and Germany. It also is not as high as it has been at other times in our history.

The fact that the debt-to-GDP ratio is even as high as it is a product of our decisions, during the early 2000s, to launch into two expensive wars – one of them ill-advised – and give tax cuts to the wealthiest Americans. Those tax cuts never delivered the promised economic boom. The tax rates for most Americans, particularly the most wealthy, are at the lowest level since the late 1940s, something grievance junkies such as Mourdock never acknowledge.

And the bulk of our debt is held not by others, but by us – by American citizens and corporations.
Read Krull's full remarks here.