Opinion | How one dead billionaire's influence machine stops Democrats' spending plans in their tracks and shackles our economy. By alexyablon.
Democrats' big-spending agenda is threatened by moderates in their own party deficit-hawk dogma.
A group of hardcore ideological extremists in Congress are threatening to blow up any chance the US has to reshape its economy and tackle the biggest challenges of our era. Peterson, a master of the DC—Wall Street axis who died in 2018, did more than anyone to force all conversations about government spending and debt to take place in an atmosphere of unfounded deficit paranoia. When you hear a politician compare the government's budget to a household's, or assert as fact that the nation's fiscal path is"unsustainable," you can bet that they are getting their talking points from the Peterson influence machine, even if they don't know it.
Peterson went to MIT right as America entered World War II, working in a lab. Eventually he transferred to Northwestern where he switched from engineering to business. He then earned an MBA at the University of Chicago where he took classes from arch-libertarian Milton Friedman, which he described as one of the most formative experiences of his entire life.
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