Jared Bernstein, a former economist of the Obama administration, has a post on his new blog. Bernstein attempts to shield Obama from liberal criticism by stating that critics are not dealing with political reality(the pragmatism defense). This is par for the course with the Obamaniacs. What is interesting is what Bernstein has to say about the White House's present and past stance on direct job creation by the government:
"But then there’s this: There will be no WPA-type programs in our near future. There was no appetite for them in the Obama admin in the midst of the worst recession since the Great Depression and there’s a lot less now. The reasons for that are interesting and I’ll speak to them another day".
I would love to know what those 'interesting' reasons were during the midst of the crisis. Perhaps afraid of being labeled socialists? We all know how that worked out.
9 comments:
As a non-American, I'm constantly amused at the collective consciousness's opposition to anything that helps everyone and it's constant reference to things like that as communism or socialism.
I'm constantly amazed at those you allow on the media and say things so "feral" and the greater [political?] community just accepts it and repeats it.
My own country is heading in the same direction but it is not nearly at that extreme yet.
I just don't get it but I've always been a misunderstood niche individual - maybe that's just my lot in life.
Obama has had his ego blown up by his egotistical wish to be like Ronald Reagan.
Whoever controls the strings, including the Obama puppet, made him feel really warm last Fall when he announced that he would like to be like Reagan.
Meanwhile they were planning out the covert operations in the middle east, and covered them up with " they did it all by themselves" as for the MIddle East tide of spring whatever.
It wasn't google but Government spending which accomplished that !! Nor Obama's similiarity ( if there is any ) with Reagan !
Reagan didn't have Google nor technology.
Reagan had the Pope who started it all and REagan co-op'd the move and stole all the credit.
Finally Obama now says that the model for the MIddle East is "Poland." Again trying to fake a Reagan move.
OBama has ignored small business and ignored spending on small business therefore ignored job creation.
Obama is infatuated and has been duped into thinking that he is applicable to Reagan - a deregulator when we need to step back from that.
Obama has been duped and lost all credibility.
He is not Reagan, he is not creating the Middle East theatre of spring revolutions and it is not like eastern europe.
it's much more dangerous and his narcissism is precarious.
It should have been a big red flag when even Republican consigliere James A. Baker rejected the Administration's 'bankers and investors to the lifeboats first' policy:
bank boards of directors and senior management should be replaced and, unfortunately, shareholders will lose their investment. Optimally, bondholders would be wiped out, too. But the risk of a crash in the bond market means that bondholders may receive only a haircut. All of this is harsh, but required if we are ultimately to return market discipline to our financial sector.
http://www.businessinsider.com/former-treasury-secretary-james-baker-kill-the-zombie-banks-2009-3
DeLong on Krugman on Obama
Paul Krugman on Obama: Shoulda Coulda Woulda
Quote:
Shoulda Coulda Woulda: on the Obama issue, I still think that the administration has made four serious misjudgments.
1. I think that it has paid too much attention to the short-run political risks of taking unpopular positions versus the medium-run political risks of having a lousy economy....
Obama is up there with Rick Perry.
Housing is up in Texas while the nation is down in their double or triple dips.
Why ?
Tax receipts - we are supposedly not paying a lot in taxes here but since the Energy sector is based here we are definitely getting all the tax receipts from all the folks in the USA having to pay for $4/gallon gas.
So this refers back to the 7 year old's question about gas prices.
The tax receipts are large enough to keep Texas a little solvent, and lots more than the rest of the nation, so everyone is moving to Texas.
It's the ultimate Ponzi scheme, right ?
Tax payer advocate ? regulation and lower energy costs for starters.
but the deficit terrorists are for deregulation as a smoke screen when in fact the taxes are have not changed.
this is a barrier for MMT
I am not able to understand the significance of googleheim's statement:
'The tax receipts are large enough to keep Texas a little solvent, and lots more than the rest of the nation, so everyone is moving to Texas.'
I don't know about the influence of corporate taxes on oil company profits, but there are no personal income taxes in TX. I thought that the oil companies had all managed to relocate their addresses to some tax haven mailboxes. Lots of wealthy oil magnates in TX manage to run the state (as well as the federal) governments.
wilwon :
the point is to look at taxes on gasoline :
1. oil companies are tax free in caymans
2. oil companies get subsidies and tax breaks with the state and the federal government
3. gas is taxed with state and federal components
4. gas is deregulated and so manipulated to a high price
5. said high price therefore generates MORE TAXES since the tax component is a % and not a fixed amount.
6. more tax receipts are received by state and federal agencies
7. consumers are hit with HIGH TAXES that are UNSEEN and this is to blame by those who deregulate and will not pull back prices; also it is from government who will not restrain tax % on gasoline.
ERGO ... THEREFORE ...
the deregulators have no incentive to lower gasoline prices and the government agencies have NO incentive either because they are both getting paid more than the "market"
said market is rigged to the hilt
and over taxed, over speculated
there is nothing you can do either.
wilwon :
as for texas :
a. texas does not have a personal income tax BUT it does NOT have a cap on real estate tax like california -- > RESULT : it costs about the same and it is a wash out. look for other factors of difference .... like :
energy sector located in Texas with low taxes on the corporate side but HIGH taxes on the gasoline which they own and operate and generate for the state.
b. people are moving here because it is a bubble that is protected from the national trends - - real estate is doing fine
@Senexx: Our national identity has become perilously coupled to the Libertarian serpent.
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