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View Diary: Austerity is NOT the way to Prosperity (53 comments)

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  •  Democrats on board (1+ / 0-)
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    Bragging about Austerity Cuts

    Here you have the difference between a tactical argument and a policy argument. On tactics, the President obviously finds it worthwhile to bust this myth of him as a big spender. But that has consequences for economic policy. And given how the state of the economy affects elections, you could make a very compelling argument that it would have been worth it to push to rehire the hundreds of thousands of public workers who have been laid off in the Great Recession, among other expansionary policies.

    Of course, the President is not a dictator and once Republicans took the House, some of these efforts (not all, certainly not in the housing arena) were closed off. “House Republicans have put a lot of pressure on, and been successful on cutting a whole bunch of spending,” Linden said. “Some of that is reflected in the chart.” He added that the larger factor is that the President inherited “an incredible mess of a balance sheet,” and that the mess has proven difficult to clean up in the midst of a recession.

    These folks need to decide whose side they are on...

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