many thanks to Diane Rehm!

[winterbadger]

Enjoyed the Diane Rehm Show this morning. DR called out one of her guests on using the term "Obamacare", and when one ultra-business participant said the federal stimulus spending was a failure because no businesses would be foolish enough to use stimulus money to fund expansion, one of the others came up with a major US company--ALCOA--off the top of his head who had done just that.

We needed (still need) a better focused and LARGER stimulus program. The problem was not that it was put in place, but that it was too late and too small. Even so, it helped. We need more government spending *sensibly targeted*, not less.

Two of the participants also debunked the myth that the same pro-business presenter put forward, the old lie that cutting taxes and reducing regulation creates jobs, by pointing out that no such job growth occurred during the pro-business Bush administration that did both of these things, while during the Clinton and Reagan presidencies, taxes had been high and job growth had boomed

Comments

[wcg.livejournal.com]

I wish the Obama administration had a Harold Ickes to promote some really BOLD job creation policies. This administration's economic policies have been a sad illustration of what happens when you try to make a bold leap across a deep chasm in two steps.

[winterbadger]

"try to make a bold leap across a deep chasm in two steps"

ROFLOL! That is, sadly, a good description. I salute the president's efforts to be moderate (which seem to infuriate both his enemies and his supporters), but the economy in a recession is not, perhaps, the best place for compromise. The problem is that in the first half of his first term, he had the option not act boldy. Now that the GOP has captured the House, he *has* to compromise, and the people he is dealing with (espec. Cantor, maybe less so Boehner) are quite uncompromising.