One defensible strategy would be if this were a maneuver to reduce debt servicing costs (a noted justification). I’d have more faith in that if the proposed budget appeared more serious about deficit/debt, if administration projections about revenue in coming years had not been so outlandish (and which, by the way, now appear to be even more out of reach, especially if there is a recession), and generally if the arguments made by the administration were more clearly founded on sound principles and fact rather than so much fabricated nonsense.
And even among those who see that as a justification, one frequent take is that the president is “rolling the dice” (high risk, high reward).
I can’t claim any great knowledge, but from what I’ve been reading for a some time, the probability of the gamble paying off is relatively low even if circumstances play out largely the way the administration might hope.
I have no problem with a president who is serious about cost-cutting, addressing the national debt, and thinking long-term over short-term.
But this looks like someone playing with the world economy by trying to draw an inside straight, and it seems to arise largely from hubris rather than reason (sorry for the move from dice rolling to poker).
