Saturday, August 28, 2010

Jerry Brown hearts Obama

California attorney general and gubernatorial candidate Jerry Brown's decision to embrace President Barack Obama's endorsement was a wise and courageous move.  The other Democrats who are avoiding Obama are not really understanding the concept of working as a team

With the mistaken idea that not associating themselves with the president will somehow help them with independent or conservative voters.  Although Obama's ratings have dipped recently he is still easily the most popular political leader in Washington.  And he is still very popular with the Democratic base.

By not embracing and defending Obama, not only do the candidates hurt the Democrats prospects in 2012, but they also risk turning off a lot of Obama's supporters.  They can make it harder for the president and others to raise funds and volunteer support for the party in general, and for them in particular.  They are not looking at the race holistically.

In other news, a number of non-partisan sources have calculated that the Republican economic plan put out by John Boehner will result in higher deficits and fewer jobs.

http://www.newsweek.com/blogs/the-gaggle/2010/08/26/on-jobs-and-deficits-republicans-are-worse-than-obama.html

The Republicans want to continue preserving tax cuts for the rich and are thinking of doing this by cutting spending at a time when only the government can lead the country out of the jobs recession in a timely manner.

The financial markets are still badly mangled.  Many corporations and even whole countries still have bad books that could a decade or two to mend on their own!  Their situation is not much different than those struggling homeowners except they have no option of walking away or foreclosure.  They simply have to slowly pay off their liabilities, and get their finances in order. A lot of problems have been hidden thus far by clever accounting tricks.

Unless we want this thing to drag on for a very long time, the government must spend to keep the economy rolling. 

The GOP plan will protect the money of the very wealthy, but will do little to help generate jobs.

1 comment:

Mr. Kowalski said...

The Republicans want to continue preserving tax cuts for the rich and are thinking of doing this by cutting spending at a time when only the government can lead the country out of the jobs recession in a timely manner

One cannot solve a problem of debt with more of it, despite the desperate cries of Paul Krugman. Until this:

http://static.seekingalpha.com/uploads/2008/12/25/saupload_a3.jpg

is resolved, there will be no recovery. This is a problem of debt thirty years in the making; it's not Big O's fault. But his policies of borrow and spend will have disasterous consequences. If he continues on this path, which I have no doubt he will, he will be remembered along with Herbert Hoover as the president who presided over a grinding Depression. Luckily for him, I don't think it will be the US that sinks first; Japan's sovereign debt or the European banking system will be the first domino.


 

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