This is my open letter to the Republican Party. I need to know if you are insincerely pandering as a minority party, or if you are being serious this time.

Republicans in Congress and elsewhere have been launching a furious attack on Obama’s economic crisis plans, and his budget proposal. There are, apparently, grave concerns about the budget deficit, the level of government spending in relation to the economy as a whole, and to the inevitable build-up of the federal debt. Bloggers and the radio folk add a polemic element, calling all of this “socialist” or even “Marxist.”

Should we expect and hope that the economy will right itself over time? There is some credible thinking along those lines, but the vast majority of credible economists conclude that government intervention is necessary to shorten the duration and lessen the severity of the recession.

Should we cut taxes? Is there an argument to be made that it is in the nation’s best interests to increase the budget deficit and increase our federal debt by reducing federal tax receipts?

Should the government intervene in a more targeted way? For example, is there something narrower that should be done to end the slide in home prices, and cope with the attendant avalanche of foreclosures? Something to prompt liquidity in the credit markets? Something to ease the hardships being felt by the unemployed, the underemployed, the business owner clinging by his fingernails?

Can you explain to me the Republican budget plan that was recently announced? [http://www.gop.gov/solutions/budget/road-to-recovery-final]. If we were to vote for you now, or next time, we will we get:

  • …a budget that “cut(s) overall nondefense spending by reforming or eliminating a host of wasteful programs deemed ineffective by various government entities”?
  • …”a simple and fair tax code with a marginal tax rate for income up to $100,000 of 10 percent and 25 percent for any income thereafter, with a generous standard deduction and personal exemption”?

You controlled the White House and Congress from 2001 through 2007, and you never proposed any of this.

Your budget document calls for reducing taxes, reducing deficits and reducing federal debt. I do not understand. Doesn’t reducing taxes add to deficits and therefore debt? On the subject of debt, you write, “The debt held by the public will exceed 50 percent of GDP this year and increase to 82 percent of GDP ten years from now. History tells us what governments do with such levels of debt and what happens to their citizens.” In fact, almost $9 trillion of the current $11 trillion of federal debt came under Republican presidents. Is this a change of heart on your part?

Can you explain to me your party’s support of bailouts in September 2008, and your opposition to them now?

Finally, can you provide me with an honest reckoning of this: How much of the Obama spending is an unfortunate necessity, arising from the huge spending increases, deficit and debt growth, off-budget spending on the Iraq war, and credit market oversight laxness of the last ten years?

In short, convince me that your President right now wouldn’t be doing exactly the same things, given current economic conditions and your party’s own history of reckless spending.

Thanks. I’ll be looking forward to your reply.

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