In theory, a massive infrastructure spending bill might be something that President Donald Trump and members of the Democratic Party could agree upon.
However, economist Paul Krugman takes a look at the current makeup of the House of Representatives and concludes that any infrastructure bill capable of attracting significant Democratic votes would have no chance of passing in the House.
In a lengthy tweet storm posted Tuesday, Krugman notes that there is simply no way that the House Freedom Caucus would ever go along with any plan for the government to borrow $1 trillion and spend it on infrastructure, which is why Trump's plan calls for tax credits for private spending on infrastructure projects.
"This is really bad policy," explains Krugman. "[It would] probably amount to giveaway to cronies, with little new investment."
Krugman says it's theoretically possible for Trump to craft a reasonable bill capable of getting just enough Democratic votes to offset Republican defections from the House Freedom Caucus, but he just doesn't think the White House has the policy chops to strike that particular balancing act.
In the end, Krugman believes that whatever infrastructure plan Trump puts before Congress will amount to a "giant ripoff."
Read the whole tweet storm below.
The obvious thing, you might think, would b just to borrow lots of money and spend it on roads, bridges, etc. Which is what liberals want 2/— Paul Krugman (@Paul Krugman)1490710442.0
However, this is really bad policy -- wld probably amount to giveaway to cronies, with little new investment. And Ds know this, 4/— Paul Krugman (@Paul Krugman)1490710642.0
You can't build infrastructure without some ability to plan and make choices -- it's expertise-intensive. From Trump and co? Really? 6/— Paul Krugman (@Paul Krugman)1490710813.0
So I have a hard time imagining how this happens. Maybe he can ram a giant ripoff thru Congress, but doubtful— Paul Krugman (@Paul Krugman)1490710870.0