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Republicans are threatening to default on the US national debt. Don’t believe them | Robert Reich

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Here’s a dirty secret: both Republicans’ debt hysteria and Biden’s proposed tax cuts are pure theater. Neither will happen

President Biden is proposing to trim the federal budget deficit by close to $3tn over the next 10 years. He was an FDR-like spender in the first two years of his presidency. Has he now turned into a Calvin Coolidge skinflint?

Neither. He’s a cunning political operator.

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California, Berkeley, and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at

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