There is no better way to understand what is happening to us than to read The Shock Doctrine. Shock-Doctrine tactics are why we have so many “manufactured crises” and why the right and Wall Street seem to come out on top from each one.
The “deficit” is entirely a manufactured crisis. The “sequester” is a manufactured crisis, like the :debt ceiling” crisis and the “fiscal cliff” crisis and the other crises again and again. People around Reagan said the tax cuts (combined with dooubling the military budget) were a strategy to cause deficits that would force spending cuts. It was called “strategic deficits.”
George W Bush said the shift from surpluses to deficits after his tax cuts was “incredibly positive news” because it would bring 99on a deficit crisis that would stampede opeople into accepting cuts.
This is the Shock Doctrine at work. Create a crisis, terrify people, then force “reforms” that shift the wealth upwards to the billionaires.