Wednesday, August 15, 2012

A position rarely held

The New New Deal: A Book Argues That President Obama’s Stimulus Has Been an Astonishing Success - Slate Magazine

Well, you don't hear the argument as set out in the title of that article, do you?

The author explains in an interview that the Obama stimulus is not understood or appreciated for its far reaching effects.  It's quite an interesting read.  

This bit certainly sounds right:
 I don’t think my book portrays the Republicans as “vicious,” but I do show—thanks to a lot of in-depth interviews with GOP sources—how they plotted to obstruct Obama before he even took office. I show how the stimulus was chock full of stuff they claimed to support until Jan. 20, 2009—not just things like health IT and the smart grid and energy efficiency and scientific research, but the very idea of Keynesian stimulus. Every presidential candidate in 2008 proposed a stimulus package, and Mitt Romney’s was the largest. So I do spend a fair amount of time chronicling Republican stimulus hypocrisies. (Readers might enjoy the backstory of Sen. Judd Gregg’s short-lived nomination to be Obama’s commerce secretary.) In general, I’d have to say my reporting backs up the Norm Ornstein-Thomas Mann thesis that the Republicans have gone off the policy deep end—denying global warming, denying Keynesian economics (except when it comes to business tax cuts and defense spending!), trashing Obama’s government takeover of health care and also his Medicare cuts, drumming stimulus supporters like Crist and Specter out of the party.

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