In Olden Days, a Glimpse of Stocking…
…was looked on as something shocking, now heaven knows…anything goes.
So says the musical genius Cole Porter
And that resonates in politics today as Republicans historically looked upon increased debt as something shocking until it was their turn and then anything goes. Now that Joe Biden has won the keys to the car for four years—or actually two until he may lose control of both House and Senate—addressing the combined assaults facing America today, the price is suddenly too high for Republicans.
National debt is an interesting creature to contemplate
There are two flavors of national debt. One is money owed to other nations or outside entities. Let’s call it chocolate. Those debts accrue interest and must be paid back. Sometimes the interest alone is problematic. That’s the debt you have to keep an eye on. The other kind is debt that accrues to building, rebuilding or maintaining the infrastructure that constitutes the very lifeblood of the body politic. That’s vanilla and if you avoi…