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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 09:45 AM
Original message
Stimulus Facts Are Stubborn Things
Edited on Thu Jan-07-10 09:46 AM by babylonsister
http://www.washingtonmonthly.com/archives/individual/2010_01/021802.php

STIMULUS FACTS ARE STUBBORN THINGS.... The American Enterprise Institute is a conservative think tank, which enjoyed very close ties to the Bush White House, and which is not exactly known for its support for the Democratic domestic agenda.

So it was interesting to see the AEI's economic outlook for 2010 and its analysis of the Obama administration's recovery package from last year. (via Jon Chait)

The real economy ... responded to the massive stimulus but remained heavily dependent on it. In the United States, growth during the second half of 2009 probably averaged about 3 percent. Absent temporary fiscal stimulus and inventory rebuilding, which taken together added about 4 percentage points to U.S. growth, the economy would have contracted at about a 1 percent annual rate during the second half of 2009. {emphasis added}


I realize that Republicans and their most strident allies are entirely convinced that the stimulus didn't work. I've also seen the polls that suggest Americans in general are skeptical about its efficacy.

But among economists, we seem awfully close to complete unanimity that the Democrats' recovery effort rescued the economy from collapse, created jobs, and generated economic growth that wouldn't have existed otherwise. Among those who know what they're talking about, this isn't even worth debating anymore -- it's simply an obvious truth.

Which is why the politics of the economic debate can be so exasperating. To reiterate a point from a month ago, the Republicans' track record of uninterrupted failure is rather astounding.

The GOP said the stimulus package would fail to create jobs. We now know the Republicans were wrong.

The GOP said the recovery efforts would fail to generate economic growth. We now know the Republicans were wrong.

The GOP said the stimulus "failed." We now know the Republicans were wrong.

The GOP said the government should cancel unspent recovery funds. We now know the Republicans were wrong.

The GOP said tax cuts are more effective at stimulating the economy than government spending. We now know the Republicans were wrong.

Had Republicans been in the majority a year ago, the results for the United States and the global economy likely would have been devastating. That GOP officials and their allies continue to pretend otherwise serves as a reminder of just how little role reality can play in our discourse.


—Steve Benen
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ClusterFreak Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 09:55 AM
Response to Original message
1. Wow. Just wow.
K & R!:kick:
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Tippy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 09:57 AM
Response to Original message
2. K&R......How does one get the blinders off?
Edited on Thu Jan-07-10 10:01 AM by Tippy
Had Republicans been in the majority a year ago, the results for the United States and the global economy likely would have been devastating. That GOP officials and their allies continue to pretend otherwise serves as a reminder of just how little role reality can play in our discourse.


—Steve Benen

Great Talking Points...if we can get anyone to listen....

The GOP said the stimulus package would fail to create jobs. We now know the Republicans were wrong.

The GOP said the recovery efforts would fail to generate economic growth. We now know the Republicans were wrong.

The GOP said the stimulus "failed." We now know the Republicans were wrong.

The GOP said the government should cancel unspent recovery funds. We now know the Republicans were wrong.

The GOP said tax cuts are more effective at stimulating the economy than government spending. We now know the Republicans were wrong.
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tblue37 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:42 AM
Response to Reply #2
12. Back in the early 1960s, when real progressive ideals were the
Edited on Thu Jan-07-10 10:42 AM by tblue37
country's consensus opinion, the movers and shakers from the right wing (big money men--bankers, leaders of industry, old money, etc.) started planning to retake the country for their own power. They consistently poured money into buying up media outlets, establishing think tanks, supporting career paths for bright young people by paying them to write papers and such so they would become the "experts" called on by broadcast outlets to discuss the issues of the day and so they would be co-opted and their loyalty would be to the interests of the moneyed powers, etc. They did this for 40 years.

Even when they were "in the wilderness," as it were, they didn't take their ball and go home. They kept at it, putting their money and their support into their long-term goal.

And they succeeded. America is a center left country, but the media, largely owned and directed by the RW moneyed interests, endlessly repeats the lie that America is a center right country, and people end up acce3pting that as truth even though it is clearly false.

They control the debate and the terms of the debate. Even when they are "in the wilderness," as they are now, the RW is able to persuade everyone, including many progressives, to swallow their lies. And unlike the RW, progressives will take their ball and go home. Instead of continuing the push from one election to the next, progressives tend to try once, and if at first they don't succeed, they give up.

The best thing about Howard Dean, who is marvelous in so many, many ways, is that he looked to the long term. Although Dems were out of power, he still insisted on putting money and effort into the 50-state strategy, despite the nay-saying by the powers in the party, like Rahm Emmanuel and others.

Right now, it is hard to get the story of any success told to the American public, because the money on the left doesn't really support any long-term effort to move the consensus opinion the way the money on the right did in the early 1960s and thereafter. But we "little people" showed in the last election that we can raise money and push grassroots efforts if we want to. But now I read that 40% or more of Dems say they are not likely to vote in the next election, while 89% of Republicans and 68% of Independents are likely to vote.

Progressive Dems need to get involved and stay involved at the local and state level, as well as at the national level. The Republicans groom and push through candidates for city commissions, school boards, state legislatures, etc. That is their pipeline. They groom people who them burst onto the national stage as viable candidates. Meanwhile, Dems have trouble even fielding candidates sometimes.

Here in Kansas, our Democratic governor, who was originally a moderate Republican until Sebelius tapped him to run as her lieutenant governor in the last election, has said he won’t run for another term. There are a zillion strong Republican candidates for the post already—but we can’t find a Dem to even run in the race yet! In Michigan, the strong Dem candidate for governor has withdrawn his name. We need to be grooming and supporting candidates from the ground up. But for some reason, progressives seem to lack the stick-with-itness of the RW when it comes to grassroots enthusiasm.

We need to vote, and to do so not just in national elections, but in local and state elections as well. Those positions have a direct impact on our quality of life, and they are also the pipeline for national candidates. We also need to take control of our party machinery at the local and state level, even in non-election years. In most cases, by the time an election rolls around, we have already lost the opportunity to field a truly progressive candidate, so we are forced to vote for the lesser of two evils.

And since we don’t own the media the way the RW does, we need to do more at the grassroots level to get our story out. For example, the corporate media will NOT tell the story about how ACORN was unfairly smeared by RW mouthpieces and the media and then illegally singled out by Congress, so we have to get the story out there about their vindication by two impartial official investigations.

And we have to persuade our progressive friends not to stay home on election day.
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Beetwasher Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 11:57 AM
Response to Reply #12
16. Good Post!
:thumbsup:
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tblue37 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 01:39 PM
Response to Reply #16
22. Thanks! nt
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Tippy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-08-10 02:16 AM
Response to Reply #12
27. A progressive friend
Told me today he might not vote. If it is ok with you Tblue37 I would like to send him a copy of your post, also would like to send it to our County Dem. Party Chair. I live in Congressman Gordons district, as you probably know Gordon is one of the Blue Dogs who is retiring. Republicans took control of our state in the last election our district will be redrawn and I fear we will lose more Democtatic voters. I may be grasping at straws but I've worked to long to see it all go up in smoke.

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tblue37 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-08-10 04:27 PM
Response to Reply #27
29. Yes, feel free to send it to whomever you think it might help. nt
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Tippy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-08-10 04:50 PM
Response to Reply #29
30. Thanks a million
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TSstate Donating Member (4 posts) Send PM | Profile | Ignore Thu Jan-07-10 09:58 AM
Response to Original message
3. Real Jobs
I just hope those jobs the stimulus created are real jobs and not just make-work jobs that will be gone again in a year. We need this to be an investment in our future (so in the right sectors), not just handing out goodies.
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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:03 AM
Response to Reply #3
4. The stimulus has kept lots of cops and teachers afloat
Edited on Thu Jan-07-10 10:05 AM by babylonsister
when their prospects were grim, so yes, it's helped people with real jobs.

Edit to add this link, re: jobs.

http://www.washingtonmonthly.com/archives/individual/2009_12/021230.php
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hughee99 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 01:05 PM
Response to Reply #4
20. The question is, will the stimulus keep them afloat
until the economy has improved enough so that the towns and cities can again afford to pay them. I hope it will.
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mkultra Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:37 AM
Response to Reply #3
10. we got to keep 5 cops in our town.
that's not make-work.
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Kdillard Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:05 AM
Response to Original message
5. K and R . Good article to reference.
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DeepModem Mom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:07 AM
Response to Original message
6. K&R!
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msongs Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:14 AM
Response to Original message
7. certainly worked to jack up bonuses to wall street bankers who caused the problems nt
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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:16 AM
Response to Reply #7
8. No it didn't, sweetie. One has nothing to do with the other.
Google is your friend, and TARP does not equal stimulus funds.

But as usual, your negativeness is noted. :hi:
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BlancheSplanchnik Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 02:27 PM
Response to Reply #8
23. .
;)
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mkultra Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:38 AM
Response to Reply #7
11. outright lie of RW substance
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Starbucks Anarchist Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:43 AM
Response to Reply #7
14. TARP and ARRA are two different things.
Not that you would know that or anything. :eyes:
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phleshdef Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 11:50 AM
Response to Reply #7
15. Not one dime of the stimulus had anything to do with the bailouts.
This is why the Obama critics on this board don't get taken more seriously.
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SpartanDem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 12:23 PM
Response to Reply #7
17. come back when you learn the difference between TARP and ARRA
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impik Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 12:38 PM
Response to Reply #7
18. Can you lie any harder or is this the best you can do?
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Arkana Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 12:55 PM
Response to Reply #7
19. ARRA != TARP.
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Nicholas D Wolfwood Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 01:34 PM
Response to Reply #7
21. Are you lying or are you a moron?
You only get to pick one.
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BlancheSplanchnik Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 02:34 PM
Response to Reply #7
25. If I remember correctly
that was done by bush, at the end of his admin. No reins on the deal.

Then, wall street wolves acted on it -- in their piggish self interest. (sorry, actual Sus domestica pigs, that wasn't meant as a put down)
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Cha Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 02:47 PM
Response to Reply #7
26. There you are again searching the gutter for snipes to
make about our admin bc it makes your neverending whine taste so good.
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Clio the Leo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:30 AM
Response to Original message
9. Remember last winter when the great question was, "Will the economy recover?"
And now the only question is "When?"
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tblue37 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 10:43 AM
Response to Original message
13. K&R nt
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jpak Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-07-10 02:31 PM
Response to Original message
24. K&R
:thumbsup:
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Tippy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-08-10 02:19 AM
Response to Original message
28. Kicking this because I care.....n/t
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