Donald Trump actually gave the GOP a model. But most of the party is still too locked into Reaganism or hard-money kookery to figure it out. The formula?

Dovish monetary policy. Low taxes. Deficit spending.
It's not my preferred formula—I think tax cuts instead of social and infrastructure investment are a bad way to build a country over the long term. But it can clearly get you to full employment. And it's a coherent ethos.
There are a few people in the GOP who have actually tried to push full-employment conservatism, but right now it's being dominated by zombie Reaganism and dumb, often incoherent right-wing populism.
You can follow @JHWeissmann.
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