Wonkbook: How Obama's unaffordable socialism could become Trump's smart conservatism

By Matt O'Brien "It will be as exciting as the 1930s." That is what Donald Trump's chief strategist Stephen K. Bannon said about the incoming administration's $1 trillion infrastructure plan. "With negative interest rates throughout the world," he argued, "it's the greatest opportunity to rebuild everything" from "shipyards" to "iron works" and just "throw it …   The latest economic and domestic policy from Wonkblog   Vice President-elect Mike Pence and President-elect Donald Trump. (Ricky Carioti /The Washington Post) By Matt O'Brien "It will be as exciting as the 1930s." That is what Donald Trump's chief strategist Stephen K. Bannon said about the incoming administration's $1 trillion infrastructure plan. "With negative interest rates throughout the world," he argued, "it's the greatest opportunity to rebuild everything" from "shipyards" to "iron works" and just "throw it up against the wall and see if it sticks." He has a point. Well, not about the 1930s being particularly exhilarating or the need for new iron works per se. But it is a good time to invest in infrastructure. These are things we're going to have to spend money on eventually, so why not spend on them when our borrowing costs are as low as can be? That would actually save money in the long-term. Which is why President Obama has been trying to get Congress to pass his own infrastructure bank for five years now. Republicans, though, have said no. Would they say yes to Trump? Read the rest on Wonkblog. Chart of the day Brazil's public finances deteriorated under former President Dilma Rousseff with grave consequences for the country's economy. President-elect Trump has proposed an agenda that is similar in fundamental ways to Rousseff's. Max Ehrenfreund has more. Top policy tweets Public investment as a share of GDP in developed economies is at its lowest level since 1948, according to Bank of America Merrill Lynch. pic.twitter.com/NCUFYLRGjY ADVERTISEMENT   — Jamie McGeever (@ReutersJamie) November 21, 2016 Rural America, even as it laments its economic weakness, retains vastly disproportionate electoral strength: https://t.co/a0EhrBCcno — Emily Badger (@emilymbadger) November 20, 2016 Trump's plans for eroding the federal government workforce (so much for "job creator") https://t.co/tiBJjsHhkm — AlanaSemuels (@AlanaSemuels) November 21, 2016 This is big: 86% of hospital/health system CEOs say no to the GOP's "repeal and delay" strategy https://t.co/yWPgyIW3s7 — Topher Spiro (@TopherSpiro) November 20, 2016 Plenty of reasons to think the GOP will mightily struggle to agree on an Obamacare "replacement." https://t.co/VePqJdIUtI — Jeffrey Young (@JeffYoung) November 20, 2016 There is a bipartisan desire to guarantee insurance for pre-existing conditions. Sadly, there's no magic pixie dust that makes it easy. — Larry Levitt (@larry_levitt) November 11, 2016 Most Recent Posts from Wonkblog What the alt-right really wants, according to a professor writing a book about them The movement is an emerging force in American politics. By Max Ehrenfreund  •  Read more »   The family tie that could make whatever Trump does to Obamacare awkward The tricky relationship that President Trump could have with a relative's health insurance business By Carolyn Y. Johnson  •  Read more »   Why legal pot is suddenly in big danger Donald Trump's selection of a new attorney general antagonistic to pot could be a game-changer By Keith Humphreys  •  Read more »   How Obama’s unaffordable socialism could become Trump’s smart conservatism Some very interesting comments from Steve Bannon, Trump's senior strategist, could cause a lot of trouble with both parties. 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