Capitulating to the Republicans on spending is a bad idea both economically and politically. Economically, you have the historical record of Hooverism flashing great big red warning lights: spending freeze during recession brings on depression. It's not even hard to understand why: supply can't drive an economy if no one's got any money to create demand. I mean, geez. You really don't even need Econ 101 to know that if nobody's got a job, nobody's spending money; and if nobody's spending money, nobody's selling merchandise; and if nobody's selling merchandise, nobody's hiring. Voila! Cue the soup kitchens.
Since I know this administration knows all that, I have to assume that the proposal to freeze spending comes out of a desire to either satisfy the right wing, deflate some of their rhetoric, bring them on board, or soothe the public's jangled nerves. Well, uh, news flash, Mr. President: there is nothing you can do, up to and including registering as a Republican, to satisfy the right wing. They are dedicated to ruining you.
As for the public's jangled nerves: Your job is to explain why they can relax a little on that front. Job creation will reduce the deficit all by itself, because it will create tax revenues and build demand, which will create jobs and more tax revenues and more demand! The deficit will be reduced! Instead of pandering to public fears, which have been fed by the Republican propaganda machine spewing misinformation, explain it! In short sentences with one-syllable words if necessary, but explain it!
Announcing a spending freeze makes you look weak, emboldens your enemies, and undermines the confidence of the liberal base in your ability to do the right thing. Don't go down this path. It doesn't lead to anywhere the rest of us want to be.
No comments:
Post a Comment