No Magic Bullet May 4, 2010Posted by Dwight Furrow in Dwight Furrow's Posts, politics.
Tags: Obama and bipartisanship
William Galston thinks Democrats should “quickly pivot to the economy” and stay focused on it until the November midterm elections, instead of doing climate change or immigration.
But I have no idea what it would mean to focus on the economy. I agree with Matt Yglesias:
The bad economy has led to a collapse in trust in public institutions, and the voters—falsely—believe that fiscal stimulus measures haven’t helped the economy. It would have been smart to simply ignore the voters’ half-assed macroeconomic theories back in February 2009 and pass a bigger and better-designed stimulus bill. But at this point, I think a wide range of incumbents (mostly Democrats, but also Bob Bennett) are simply going to have to lay in the bed they’ve already made.
There is not much a President or Congress can do in the short run, in this political climate, to influence the economy.
There are too many people who continue to have “have-assed theories and misconceptions” just as they did in 2009 when the first stimulus package was passed. It would be impossible to pass additional stimulus.
The Democrat’s political predicament is, in part, the result of Obama seeking bipartisanship early in his term. He should have been relentlessly pinning blame for the economy where it belongs—on conservatives and their regulatory gifts to Wall St. His bipartisan schtick will be the biggest mistake of his Presidency.
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