"ForReal, Hillary Clinton’s neoconservative fan club, explained"
by Andrew Goutman · January 10, 2014
[...]
According to Paul, reported the Detroit Free Press, “Detroit’s future will not come from Washington. The magic of Motown is here in the city.”
There was no report of a magic wand. Sen. Paul proposed that in Detroit communities that have an unemployment rate of 12 percent or more, federal personal and corporate taxes would be reduced to five percent, and that the federal payroll tax would be lowered to two percent each for both employer and employee.
That’s it. That’s his solution. No job-retraining. No decaying infrastructure repair. No mortgage adjustments. You cut taxes, and by magic, the engine of economic activity starts purring. Putting aside the demand-side vs. supply-side economics debate for now, it wouldn’t take a Congressional Budget Office analysis to point out the obvious: Been tried. Never worked.
"More likely, Obama would simply rather partner with nobody at all — he’d like US foreign policy to focus on relationships with growing economies in Asia rather than on the balance of power between a series of authoritarian petro-states."
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