Digby, DeLong and likely others have already commented on (wept, pulled hair out, thrown darts at) Ryan Avent’s report of the Obama economic advisers doubling down on their “we’ve done enough for the unemployed” excuses, refusing to acknowledge Obama’s economic policies have failed to produce either healthy, sustainable growth or an acceptable rate of improvement in the nation’s unemployment.
Paul Krugman calls it “learned helplessness,” but it looks more like Stockholm Syndrome or worse. It’s not just the White House folding again to anti-government Tea-GOP demands; Obama’s team seems to believe the same gibberish, and we’re all going to pay for their mistakes. They’ve gone from “spend now, cut spending later,” to “cut now and cut later, and maybe spend a little to save face.” As Avent concludes:
In any case, it seems a sure thing that fiscal policy will be a net drag on the economy in coming quarters, and not an insignificant one either.
For us non-economists, this means the people sitting around Joe Biden’s dining table are debating how much worse to make the economy and unemployment, because they apparently believe in non-existent confidence fairies, bond vigilantes and voodoo economics. In short, these people can’t be trusted to run the government, let alone put Americans back to work doing stuff that needs doing.
DeLong notes that the likely effect on the US economy will be worse than the downturn and pain the UK just experienced from their self-inflicted bout with austerity. (more on UK austerity failure here) You’d think Americans would be grateful for the advance lesson in macroeconomics, but our ruling class is made up of non-learners: Ideas that are wrong in theory and failed in practice have to be enacted here, for no good reason.
That’s bad enough, but then the Obama Pods at the Committee to RE-Elect the President (CREEP) and the DCCC have the nerve to send me e-mails — yes, I’ve sinned in the past , but I’m better now — asking me for money while they push policies that are little different from what we’d expect from a President Romney. That’s not Romney pre-primaries; that’s Romney if he actually fooled the Tea-GOP crazies and became, you know, actually responsible for doing something for which he might be held accountable.
I don’t know why I should contribute to people whose policies have become indistinguishable from what we’d get from a Romney agenda. You’d think even the Obama Pod People would figure that out, but they keep asking.
Another e-mail tells me Obama’s campaign manager — Pfeiffer? — will be a keynote speaker at NetRoots Nation. I’m can’t make it this year, but if I were going, I’d be saving up confetti to shower on him. I’d cut up lots of pictures of rotten tomatoes and . . . send them in lieu of a donation. Probably get arrested, but I’d feel better. It’s come to that. Nice work, Pod People.