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View Diary: an astonishing, horrifying failure (55 comments)

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  •  Which was good enough. (9+ / 0-)

    Krugman (again) was warning at the time the stimulus was being considered that:

    * It wasn't big enough or well-targeted enough to restore job growth.

    * When it didn't restore job growth, the GOP would use that failure to regain political power and discredit the whole idea of stimulus.

    Anyone could see that there was a great likelihood that we'd have one shot only, and that we ought to make the best of it. Our leaders should have remembered that the Clinton victory of 1992 was followed by the GOP landslide of 1994, which ended Clinton's ability to do any damn thing.

    We had one shot. We knew we might not have another. The Dems did a half-assed job of using the opportunity we had.

    "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

    by HeyMikey on Fri Sep 06, 2013 at 08:40:56 AM PDT

    [ Parent ]

    •  Too bad Krugman doesn't understand politics. n/t (0+ / 0-)

      Code Monkey like freedom / Code Monkey like peace and justice too
      Code Monkey very nerdy man / With big warm fuzzy bleeding heart
      Code Monkey like you!

      Formerly known as Jyrinx.

      by Code Monkey on Fri Sep 06, 2013 at 08:43:04 AM PDT

      [ Parent ]

      •  He understands politics better than the Dems did. (2+ / 0-)
        Recommended by:
        elwior, Code Monkey

        Krugman called it right on the politics.

        * He warned that if the Dems didn't resoundingly succeed in restoring robust job growth, it would be a political disaster for the Dems. Correct; the 2008 Dem victory was followed by the 2010 electoral disaster, which (like the 1994 electoral disaster) ended the Dems' ability to get anything through Congress.

        * He also warned the Blue Dogs that by watering down the stimulus, they were endangering primarily their own futures. He pointed out that the Pelosis and Franks had safe seats, even if the Dem agenda foundered. It was the Blue Dogs whose electoral futures were riding on Obama's success. Correct; it was the Blue Dogs, not the liberal Dems, who lost their seats to the GOP in 2010.

        "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

        by HeyMikey on Fri Sep 06, 2013 at 10:51:47 AM PDT

        [ Parent ]

    •  It's the most basic rule of thumb... (3+ / 0-)
      Recommended by:
      HeyMikey, elwior, Code Monkey

      ...to never ever plan for more than one trip to the well.

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