What's most interesting to me is how ticked off Krugman is getting - I mean, seriously, titling one blog post "President Pushover" - and, the degree to which Krugman's ire is a barometer of liberal pique with Obama finally boiling over (and I think it is). What's also interesting to me is the degree to which Krugman has, through his blog, and also his TV appearances (and probably to a lesser degree his column, since it's less frequent), become one of the most influential de facto leaders of the left, and certainly the anti-Obama left (which recently is becoming the same thing). Here's Krugman last night, in a post titled "Hope is not a plan":
Nor is it [hope] good politics. So what the heck are they thinking?It seems to me that there are a few possibilities to explain Carney's comments, and White House actions.
President Barack Obama’s spokesman is discounting talk that the economy may be headed back into recession, despite recent concerns of economists.Of course there’s a threat. Larry Summers puts the odds at one in three; I might be slightly more optimistic, but the risk is very real. Who, exactly, is at the White House who knows better?
Spokesman Jay Carney says there is no question that economic growth and job creation have slowed over the past half year.
But, Carney told a White House briefing, “We do not believe that there is a threat of a double-dip recession.”
And think about the politics here. For two years the White House has been determinedly cheerful, always declaring that the recovery was on track, that its policies were working fine. And all it did was squander its credibility
1. The President really does think the economy is going swell, and will go swell, by the time of the election next year.
2. The President thinks there's nothing else he can do - either economically, or politically - to help the economy, so the best he can do is put on a happy face.
3. Regardless of what he believes to be the true state of the economy and/or his ability to do anything about it, the President believes the best he can do is exude conference.
If it's 1, we're in trouble. And reportedly it was 1 that got us such a small stimulus - the White House figured we'd be out of the economic doldrums in a year or so, so we didn't need a very large stimulus to hold us over.
2. I think the President concluded a long time ago that he had done what he could for the economy, with the stimulus, and it was time to pivot to the debt (you'll recall he endorsed the GOP talking points on the debt about a month or so after the one year anniversary of the stimulus). The "pivot to jobs" is, I think, for show, only. I have no idea what the President could possibly propose that won't be either pablum, or terrible (more tax cuts). Of course he could propose another stimulus, but he won't. So in the real of what's possible, for him, I have no idea what he could come up with that would be serious or have an impact on the current economic crisis. And that's scary.
3. Sure, the President feels the need to put on a happy face. But regardless, I don't think anyone puts much stock in the President's word. Which is particularly sad considering that this President's number one gift was his ability to communicate.
