The only thing
Krugman:
The unemployment report on Friday was brutally bad. Unemployment rose in December, while job creation was minimal — and it’s highly likely, for technical reasons, that the job number will be revised down, showing an actual decline in employment.
It’s the latest piece of bad news about an economy in which the employment situation has actually been deteriorating for the past year. It’s no longer possible to hope that the effects of the housing slump will remain “contained,” as one of 2007’s buzzwords had it. The levees have been breached, and the repercussions of the housing crisis are spreading across the economy as a whole.
It’s not certain, even now, that we’ll have a formal recession, although given the news on Friday you have to say that the odds are that we will. But what is clear is that 2008 will be a troubled year for the U.S. economy — and that as a result, the overall economic record of the Bush years will have been dreary at best: two and a half years of slumping employment, three and a half years of good but not great growth, and two more years of renewed economic distress.
The November election will take place against that background of economic distress, which ought to be good news for candidates running on a platform of change.
But the opponents of change, those who want to keep the Bush legacy intact, are not without resources. In fact, they’ve already made their standard pivot when things turn bad — the pivot from hype to fear. And in case you haven’t noticed, they’re very, very good at the fear thing.
As if on cue, Kristol:
Thank you, Senator Obama. You’ve defeated Senator Clinton in Iowa. It looks as if you’re about to beat her in New Hampshire. There will be no Clinton Restoration. A nation turns its grateful eyes to you.
But gratitude for sparing us a third Clinton term only goes so far. Who, inquiring minds want to know, is going to spare us a first Obama term? After all, for all his ability and charm, Barack Obama is still a liberal Democrat. Some of us would much prefer a non-liberal and non-Democratic administration. We don’t want to increase the scope of the nanny state, we don’t want to undo the good done by the appointments of John Roberts and Samuel Alito to the Supreme Court, and we really don’t want to snatch defeat out of the jaws of victory in Iraq.
For me, therefore, the most interesting moment in Saturday night’s Republican debate at St. Anselm College was when the candidates were asked what arguments they would make if they found themselves running against Obama in the general election.
The best answer came, not surprisingly, from the best Republican campaigner so far — Mike Huckabee. He began by calmly mentioning his and Obama’s contrasting views on issues from guns to life to same-sex marriage. This served to remind Republicans that these contrasts have been central to G.O.P. success over the last quarter-century, and to suggest that Huckabee could credibly and comfortably make the socially conservative case in an electorally advantageous way.
Nanny state is, I guess, a euphemism for universal health care. As for the rest, yep, having nothing else to run on, expect the GOP candidates and the whores who shill for them to scream "teh gays marrying!" and "they want to take your guns!" Kristol is letting his slip show in admitting that those have been the defining issues "central" to GOP success over the last quarter-century.
Let's let Krugman conclude, shall we?
The whole point of scare tactics is that they can work even in the face of inconvenient facts.
And what I’m not sure about is whether the Democrats are ready for the fight they’re about to face.
Not to put too fine a point on it, Barack Obama won his impressive victory in Iowa with a sunny, upbeat message of change.
But there’s a powerful political faction in this country that understands very well that any real change will create losers as well as winners. In particular, any serious progressive reform of health care, let alone a broader attempt to reduce middle-class insecurity and inequality, will have to mean higher taxes on the affluent. And members of that faction will do whatever it takes to scare people into believing that change means disaster for the economy.
I don’t think they’ll succeed. But it would be a big mistake to assume that they won’t.
Labels: Bill Kristol, Krugmaniad
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