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Paul Krugman on deficits and investment in the welfare of children

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“Helping Kids Is a Very Good Idea”

New York Times 27/1/21

Reducing child poverty is an urgent requirement in the USA as well as in the UK . Republicans are likely to oppose the measures on the grounds of the deficit (sounds familiar) . Deficits are ok when it comes to tax cuts under Trump but not under any circumstances when a Democrat is in the Whitehouse

“Anyone who has been paying attention over the past decade knew that as soon as a Democrat took the White House, Republicans would instantly do another 180-degree turn on budget deficits.

Remember, the G.O.P. went from hyperventilating about debt as an existential threat during the Obama years to complete indifference about deficits under Donald Trump. Surely nobody is surprised to see Republicans immediately revert to deficit hysteria now that Joe Biden is president.”

and of course “If the children we help today grow up into healthier, more productive adults than they would otherwise — which they will — that will eventually mean higher G.D.P.”

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