I hope the White House has come around to seeing things Jared Bernstein’s way:
Jared Bernstein, a former economic advisor to Vice President Joe Biden, said it was futile for Obama to try to accommodate Republicans determined to block the White House agenda. “If the president frames his jobs agenda based on what Republicans will accept, I don’t think he’s going to end up with much,” he said. “He has to prescribe what he and his team believes the country needs and fight for it.”
This presents a challenge because polling (and the last election) shows that the people really do not like stimulus spending. It’s counterintuitive that you get out of debt by going further in to debt.
No it isn’t, and I really wish people would stop saying this because it supports the simplistic right-wing framing of this issue. Anyone who has ever taken a loan to buy a car or a house, open a small business, or get an education understands that you can in fact ‘spend your way outt’ve debt.’ As liberals, progs, Democrats what-have-you, we’d do ourselves a favor to stop acting like “you have to spend money to make money” is such a mindblowingly complicated idea. It was conventional wisdom for generations, and it can be so again if we stop acting like such pussies about it.