Learning From Obama

Source: NY Times

Author: Paul Krugman

Emphasis Mine

Like many political junkies, I’ve been spending far too much time looking at polls and trying to understand their implications. Can Donald Trump really win his party’s nomination? (Yes.) Can Bernie Sanders? (No.) But the primaries aren’t the only things being polled; we’re still getting updates on President Obama’s overall approval. And something striking has happened on that front.

At the end of 2015 Mr. Obama was still underwater, with significantly more Americans disapproving than approving. Since then, however, his approval has risen sharply while disapproval has plunged. He’s still only in modestly positive territory, but the net movement in polling averages has been about 11 percentage points, which is a lot.

What’s going on?

Well, one answer is that voters have lately been given a taste of what really bad leaders look like. But I’d like to think that the public is also starting to realize just how successful the Obama administration has been in addressing America’s problems. And there are lessons from that success for those willing to learn.

I know that it’s hard for many people on both sides to wrap their minds around the notion of Obama-as-success. On the left, those caught up in the enthusiasms of 2008 feel let down by the prosaic reality of governing in a deeply polarized political system. Meanwhile, conservative ideology predicts disaster from any attempt to tax the rich, help the less fortunate and rein in the excesses of the market; and what are you going to believe, the ideology or your own lying eyes?

But the successes are there for all to see.

Start with the economy. You might argue that presidents don’t have as much effect on economic performance as voters seem to imagine — especially presidents facing scorched-earth opposition from Congress for most of their time in office. But that misses the point: Republicans have spent the past seven years claiming incessantly that Mr. Obama’s policies are a “job killing” disaster, destroying business incentives, so it’s important news if the economy has performed well.

And it has: We’ve gained 10 million private-sector jobs since Mr. Obama took office, and unemployment is below 5 percent. True, there are still some areas of disappointment — low labor force participation, weak wage growth. But just imagine the boasting we’d be hearing if Mitt Romney occupied the White House.

Then there’s health reform, which has (don’t tell anyone) been meeting its goals.

Back in 2012, just after the Supreme Court made it possible for states to reject the Medicaid expansion, the Congressional Budget Office predicted that by now 89 percent of the nonelderly population would be covered; the actual number is 90 percent.

The details have been something of a surprise: fewer people than expected signing up on the exchanges, but fewer employers than expected dropping coverage, and more people signing up for Medicaid — which means, incidentally, that Obamacare is looking much more like a single-payer system than anyone seems to realize. But the point is that reform has indeed delivered the big improvements in coverage it promised, and has done so at lower cost than expected.

Then there’s financial reform, which the left considers toothless and the right considers destructive. In fact, while the big banks haven’t been broken up, excessive leverage — the real threat to financial stability — has been greatly reduced. And as for the economic effects, have I mentioned how well we’ve done on job creation?

Last but one hopes not least, the Obama administration has used executive authority to take steps on the environment that, if not canceled by a Republican president and upheld by future Supreme Courts, will amount to very significant action on climate change.

All in all, it’s quite a record. Assuming Democrats hold the presidency, Mr. Obama will emerge as a hugely consequential president — more than Reagan. And I’m sure Republicans will learn a lot from his achievements.

April fools!

Seriously, there is essentially no chance that conservatives, whose ideas haven’t changed in decades, will reconsider their dogma. But maybe progressives will be more open-minded.

The 2008 election didn’t bring the political transformation Obama enthusiasts expected, nor did it destroy the power of the vested interests: Wall Street, the medical-industrial complex and the fossil fuel lobby are all still out there, using their money to buy influence. But they have been pushed back in ways that have made American lives better and more secure. The lesson of the Obama years, in other words, is that success doesn’t have to be complete to be very real. You say you want a revolution? Well, you can’t always get what you want — but if you try sometimes, you just might find, you get what you need.

See:http://www.nytimes.com/2016/04/01/opinion/learning-from-obama.html?rref=collection%2Fcolumn%2Fpaul-krugman&action=click&contentCollection=opinion&region=stream&module=stream_unit&version=latest&contentPlacement=1&pgtype=collection&_r=1

Bush Tax Cuts, a Decade Later: How They Helped Break the Economy

It seems hard to believe but, just a decade ago, the deficit didn’t exist and there were surpluses as far as the eye could see. The United States was on track to eliminate the national debt altogether by 2010, making the country debt free for the first time in nearly two centuries.

From Alternet. By Steve Benen | Sourced from Washington Monthly

It seems hard to believe but, just a decade ago, the deficit didn’t exist and there were surpluses as far as the eye could see. The United States was on track to eliminate the national debt altogether by 2010, making the country debt free for the first time in nearly two centuries.

Then 2001 happened. In fact, a year ago this week, George W. Bush’s tax policy became law, and to honor the occasion, Slate’s Annie Lowrey tried to “find something redeeming” to say about them. Alas ,she came up empty, concluding that they’ve “been a failure in every conceivable way.”

Ten years ago this week, the policy’s conservative champions made bold predictions about what the tax cuts would do — massive job growth, vast new wealth, higher incomes, smaller government, and balanced budgets. None of these predictions proved to be even remotely true.

The fine folks at the Center on Budget and Policy Priorities put togetherseveral worthwhile charts this week to mark the 10th anniversary of this tragic mistake, but this one’s my favorite.

But the spectacular failure of the policy is really only part of the story. Indeed, to a certain extent, looking back at recent history only helps provide a salient foundation for the more important problem: the fact that we haven’t learned anything from the mistake.

Well, perhaps “we” is the wrong word. Some of us have learned quite a bit. But in the Republican Party, we have lawmakers who continue to insist that their votes in support of this monstrosity were fully justified. They won’t apologize, they have no regrets, and they’d rather cause a deliberate recession than any allow a single penny of tax increases to be imposed on anyone.

And on the presidential campaign trail, it’s arguably even worse. Tim Pawlenty is pushing a tax-cut plan that’s triple the size of Bush’s tax-cut package, convinced that it will — you guessed it — generate massive job growth, vast new wealth, higher incomes, smaller government, and balanced budgets.

Worse, in the process, Pawlenty is setting a bar and challenging his presidential rivals to follow him. He wants $11.6 trillion in tax cuts — will other candidates match that? Surpass it? The race is on to see which Republican presidential candidate can be the most ridiculously irresponsible, and the competition will no doubt be fierce.

We are, in other words, talking about a party that tried an ambitious and radical experiment, saw it fail, and decided what’s needed now is significantly more failure.

 I mind that Republicans got this wrong and we’ll be dealing with the consequences for many years to come, but I really mind that Republicans think they were right. As Ezra noted the other day, the party not only “hasn’t learned anything from the failure of the Bush tax cuts,” it’s actually managed to “unlearn some things, too.”

Emphasis Mine.

see:http://www.alternet.org/newsandviews/article/612959/bush_tax_cuts%2C_a_decade_later%3A_how_they_helped_break_the_economy/#paragraph2