A Crisis Is A Terrible Thing To Waste

September 8th, 2010at 07:57pm Posted by Eli

Matt Bai has a depressing column in today’s NYT about how Obama had a golden opportunity to put a landslide victory, 70% approval rating, and a once-in-a-lifetime financial crisis to good use and completely squandered it:

That was a moment, perhaps, when Mr. Obama might have given one of his trademark orations to an anxious public, an opportunity to lay out the different dimensions of the economic crisis in a way that had eluded his predecessors. You could have imagined Mr. Obama explaining then that the country had to respond in two related but distinct ways — first by spending hundreds of billions of dollars in the short term to avoid a depression, and then by making a series of large-scale investments over time that would modernize the foundation of the economy.

What happened, instead, was this: The administration turned control of the roughly $800 billion stimulus package over to Congress. Congress decided that the most expedient thing to do was to throw every kind of expenditure one could think of, short-term and long-term, into a single bill, because the public was willing to spend the money right then and the legislative politics required addressing the demands of disparate constituencies.

Sounds a lot like Obama’s approach to healthcare reform, but without the behind-the-scenes sabotage.  But more than anything it sounds like Dubya’s approach to capturing Osama bin Laden at Tora Bora, and look how well that turned out.

Entry Filed under: Economy,Obama


Contact Eli





Feeds

Linkedelia!

Most Recent Posts

Archives

Categories

Calendar

September 2010
M T W T F S S
« Aug   Oct »
 12345
6789101112
13141516171819
20212223242526
27282930  


Thinking Blogger

Pittsburgh Webloggers

Site Meter


View My Stats *