Daily Clips: October 29th, 2015
The 3rd GOP Debate was an exercise in economic fantasy: All the candidates last night peddled trickle-down fantasies for their rich overlords, leaving middle-class Americans to pick up the scraps.
…What stood out was the candidates’ refusal to own up to the details of the one policy they have embraced as an economic panacea for all Americans: Huge, deficit-busting tax cuts that disproportionately benefit the wealthy over ordinary Americans—the same supply-side logic that informed George W. Bush’s economic policy.
The third Republican debate explained: Here’s a great overview of the night by Matthew Yglesias. He notes how “Jeb Bush appeared to vanish,” Ted Cruz avoided any substance, and Rubio got away with not answering hard questions on his trickle-down tax policy.
US economy doesn’t grow much – only up 1.5 percent in the third quarter: The American economy grew at half the pace of the previous quarter, however American households “have remained resilient.” Consumer spending increased by 3.2 percent from July to September and “business investment in equipment was also strong.”
Paul Ryan elected 54th House speaker: Kiss your career goodbye, Paul “D.” Ryan.