And I'm not sure why I am supposed to be reassured by the idea that Obama is "listening" to Paul Krugman when this is how it's phrased: If Paul Krugman has a good idea, in terms of how to spend money efficiently and effectively to jump-start the economy, then we're going to do it. If somebody has an idea for a tax cut that is better than a tax cut we've proposed, we will embrace it. So, you know, one of the things that I think I'm trying to communicate in this process is for everybody to get past the habit that sometimes occurs in Washington of whose idea is it, what ideological corner does it come from. Just show me. If you can show me that something is going to work, I will welcome it. If Paul Krugman has an idea that Obama actually recognizes as a good idea, despite the fact that he seems to be following Reagan polices, then sure, fine, we'll listen to Krugman, I mean, hey, we're not gonna dis him just because he's Krugman - we'll listen to anyone who has an idea we think is good - always bearing in mind that we hired Larry Summers, and not Krugman, because we think Krugman is just another liberal we don't have to listen to. We wouldn't think of hiring and listening to the people who have been right just because they've been right when we can hire people who have been consistently wrong and listen to them because - well, because being wrong is such a good idea!
If Paul Krugman has a good idea, in terms of how to spend money efficiently and effectively to jump-start the economy, then we're going to do it. If somebody has an idea for a tax cut that is better than a tax cut we've proposed, we will embrace it. So, you know, one of the things that I think I'm trying to communicate in this process is for everybody to get past the habit that sometimes occurs in Washington of whose idea is it, what ideological corner does it come from. Just show me. If you can show me that something is going to work, I will welcome it.
If Paul Krugman has an idea that Obama actually recognizes as a good idea, despite the fact that he seems to be following Reagan polices, then sure, fine, we'll listen to Krugman, I mean, hey, we're not gonna dis him just because he's Krugman - we'll listen to anyone who has an idea we think is good - always bearing in mind that we hired Larry Summers, and not Krugman, because we think Krugman is just another liberal we don't have to listen to. We wouldn't think of hiring and listening to the people who have been right just because they've been right when we can hire people who have been consistently wrong and listen to them because - well, because being wrong is such a good idea!
Nate makes a fair point on the strategic perspective as far as Congress goes.
One way or another, Krugman's right. $775bn ain't gonna cut it. Now maybe Obama knows that, maybe he doesn't, but someone with his ear needs to sit him down and say, "Look, dumbass, if you pass a $775bn stimulus package, you're going to be a one-term president."
What form Geithner's reworking of the bailout bill takes, I don't know. It sounds like Geithner has the right idea -- to redirect the remaining $350bn to help for homeowners, aid to states and locals, and small business help. All good, and the saving grace so far. Still ain't enough.
The good thing is that the congressional Dems and even the press are pushing back pretty hard, and it does seem to have isolated the Republicans and made them almost irrelevant.
Conrad and Kerry both have Obama's ear, and I hope they'll clue him in. Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
Right now, getting the money isn't a huge problem, because the flight to safety has been so strong that rates are at ridiculously low levels. I suspect such large-scale borrowing will eventually result in long-term rates rising.
"Weimar" might merit some concern down the road, depending on the effects of the Fed going for a ZIRP, but quite the opposite is the concern right now. Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
As they say, we'll drive off that bridge if we come to it, Mary-Jo. Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
