Thought of the day

What the Republicans should do now that their bill got voted out in the House is double-down. Stick to their guns, utterly failing to even think about compromise. What we need is another last-minute prevention of a government shutdown so that we can get another credit downgrade.

12 Responses

  1. We aren’t going to get another downgrade out of this, no matter what they do.

    And I don’t remember compromise being in the liberal vernacular until after the democrats lost the house in spectacular fashion.

  2. That’s because the Republicans have been defining compromise as “no” for the past 3 years.

  3. Sure, sure.

  4. A new study from Baylor University clarifies something that’s been bothering me for a while: how is it that supposedly rational people are not only able to ignore or deny recent history when it comes to the disastrous conservative policies that destroyed the economy, but insist the only way to reverse the widespread failures they produced is to implement them again?…

  5. I ask the same question when we start talking stimulus. I can’t seem to find any real good case of such a thing working on any kind of scale. Yet the answer from some political circles keeps popping up.

  6. cf. the Depression and the New Deal, where federal stimulus efforts worked spectacularly well and gave us three decades of unrivaled economic growth and middle-class prosperity.

  7. I’m not sure you have a good grasp of that period of history.

    And I’m guessing that the US being the only major economic power that wasn’t leveled by bombs gave us an edge that no amount of misdirected government spending could.

    You have to distinguish between the things that actually heal the economic injury and the things that try to hide it, yet do nothing to heal it.

  8. It appears by your own example that the only way stimulus works is if it is accompanied by the destruction of most other industrial and manufacturing competitors. Maybe we should bomb China and the rest of Asia. That would certainly create jobs and prosperity elsewhere.

    I’m not trying to be real snarky here, but the buildup to WW2, the massive spending during (artificial demand not reflective of market realities) and than lack of extra-national competition after (because of wartime destruction) is what solved the great depression. Not a government stimulus plan.

  9. I understand there were sunspots too… ANYTHING to deny the obvious positive effects of federal intervention and regulation.

  10. With such a compelling argument as that, I can’t imagine why everyone isn’t in agreement.

    I hope you aren’t claiming that the US being the only “undestroyed” industrial power after the war had nothing to do with our country not slipping back into depression afterward.

    Keynes never claimed that government intervention fixed all problems,including the economy. The main idea was simply to hold demand at a high level until the economy recovered, not to fix it that way.

  11. Of course there were other factors, and of course was a temporary corrective action… it’s only deluded libertarians who try to pretend that government stimulus had no effect on the Depression, or on the middle-class economy we enjoyed right up until Reagan started the wrecking ball swinging.

    The last thing Americans need or want is a “free market.” We’re much better off with free people.

  12. You must not understand that the market IS people.

Leave a comment

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: