The Bishop and the Butterfly: Murder, Politics, and the End of the Jazz Age
    Dan Kervick's picture

    Hapless Days Are Here Again

    Our dominant zombie political culture has gone full-spectrum Hoover.  Now even prominent Democrats try to one-up Republicans on who can do a better job drowning the New Deal in a bathtub.

    Here's Howard Dean going batshit crazy and doubling down on deficit hawkishness and the Hooverite deficit commission:

    http://www.msnbc.msn.com/id/21134540/vp/40838855#40838855

    Apparently Dean has decided that the path to America's political heart in 2011 is to affect a swaggering fiscal meathead machismo, preach the new gospel of Pain from the cable soapboxes and out-dumb Republicans on the manly battlefield of austerity mania.

    • Republicans: We need to slash entitlement spending!
    • Dean: We need to slash entitlement spending AND raise everyone's taxes!
    • Republicans: Bipartisanship will last so long as long as Obama is willing to inflict political fiscal pain on his constituents and help Republicans dismantle the work of progressive Democrats.
    • Dean: The recent bipartisanship sucks because it isn't PAINFUL enough!  Real men have the balls to make the tough political choices and administer hot lead fiscal enemas to the struggling millions!

    Meanwhile, none of these economy stranglers seems to notice or care that great heaping gobs of American humanity are unemployed, and about half of us are treading water violently just to keep from slipping beneath the waves.

    Here's a video by Brown University and Watson Institute political economist Mark Blyth on the pan-Atlantic austerity disease.  The video was posted on September 27th, but is still relevant:

    http://watsoninstitute.org/news_detail.cfm?id=1388

    More by Blyth today on Tarp and impending bank failures:

    http://www.huffingtonpost.com/mark-blyth/the-real-reason-that-the-_b_802...

    Blyth's takeaway moral:

    TARP and associated programs worked. They saved the global payments system. That is what they were supposed to do. They were not supposed to save small-cap banks from their own investment decisions. They were also not designed to save a business model that may have run its evolutionary course.

    Finally, it is a good time to review Jamie Galbraith's courageous testimony before the deficit commission back in June:

    http://www.newdeal20.org/wp-content/uploads/2010/06/deficitcommissionrv.pdf

    Comments

    Good God all-Friday; that was depressing to hear from Howard Dean.  Guess he won't be leading any resistance movement, will he?  He let Holtz-Eakin get away with such dangerous nonsense.  I'd forgotten he's on the financial crisis inquiry commission; guess that's why so many words and terms have been disallowed, according to Brooksley Born.  Words like 'fraud'.

    The Blyth videos were great; we need to get them posted around.  He simplifies things, and he delivers it all well. 

    Next will come Too Big to Save, according to Simon Johnson, and I think Joseph Stiglitz.  Dean isn't really that much of a moron, is he, to think that there aren't fantastic uses for government spending that actually have decent returns?  Or that investments that provide jobs widen the tax base?

    And for God's sake, why isn't Doctor Dean countering 'cuts in Medicare' talk by speaking of controling health care costs, and advocating for Medicare for all?  I don't get it.


    So it does not look like there are going to be many happy endings this coming year?


    It surprises you that Howard Dean is a deficit hawk!? You slept through his run for president? Can I remind you that many early "Deaniacs" liked him precisely because he offered a fiscally conservative alternative to other Democrats?


    I'm much more conservative with money than Bush is

    The president of the United States can't balance a budget. We've not had one Republican president in 34 years balance the budget. You can't trust right-wing Republicans with your money. You ought to hire somebody who has balanced a budget. I'm much more conservative with money than George Bush is.

    Source: Democratic 2004 Primary Debate at St. Anselm College Jan 22, 2004

    Balance budget, even if unpopular

    Q: As president, what would be the least popular, most right thing you would do?

    DEAN: As governor, I'm an expert in doing things that sometimes people don't like. I actually had the pleasure of serving through both Bush recessions, not one of them. And I had to balance the budget during very difficult conditions. We have to balance the budget. That means we have to make unpopular choices. That's why we think we ought to repeal the entire Bush tax cut so we can, in fact, have health care programs.

    Source: Debate at Pace University in Lower Manhattan Sep 25, 2003

    Social justice with fiscal responsibility

    In the long run, we can not have social justice without a responsible fiscal policy.

    Our country is headed in the wrong economic direction, principally because President Bush has returned to the Republican "Borrow and Spend" policies of the 1980s. The deficit, which is approaching $200 billion per year, is the direct result of the reckless $1.6 trillion tax cuts of the President's first year in office.

    As a result of these cuts, states will receive 30 percent less next year from the federal highway fund, putting 150,000 American construction jobs on the line. These tax cuts are not a stimulus package. Just the opposite. The deficits are once again soaking up capital, diverting money from the private sector and making the economic situation worse.

    Source: Campaign web site, DeanForAmerica.com, "On the Issues" Nov 30, 2002

    Fiscally to the right of "borrow-and-spend" Bush

    How is the Democratic governor of the 49th-largest state going to beat George Bush? George W. Bush is a borrow-and-spend liberal, and I tell people that I'm going to beat George W. Bush by running to his right

    Source: Charles P. Pierce, Boston Globe Nov 24, 2002

    Many more examples @

    http://www.ontheissues.org/2004/Howard_Dean_Budget_+_Economy.htm