Compromise to Nowhere
There have been dire warnings that the worst thing you can do with a stimulus package is to be too timid. They have come from both sides of the political spectrum. Any historian/economist will tell you that both the Japanese lost decade and the Depression suffered from relapses or failed recoveries because the stimulus was too small. The warning is to err on the side of stimulus. The fear card played by the Republicans to limit the deficit they have already made almost intolerable, will be small potatoes if we really do slip into a lost decade. So what did we get from compromise, bipartisanship, and fiscal responsibility? The answer is a watered down bill very likely to fail. Actually it played right into the Republican’s hands.
We have the great majority of Republicans wanting to do nothing or just rely on tax cuts. If you don’t care about the country, this would have been a great way to go to finally prove the bankruptcy of these ideas. But with a stimulus bill that has been emasculated (sorry Alice), they have set the Democrats up to fail and then claim they were right, and for the gullible (swing voters/red staters), the Republicans will get their votes in the next election. The only up side to this is that the final crash will be later when they finally can put all their failed ideas back in play and then it will be patently obvious this stuff is nonsense. Of course this outcome means we all suffer in the meantime and for a long time.
Who was in the driver’s seat on this bill? Three “moderate” Republicans or the gang of three. In other words after an election the Democrats won handily, we are still at the mercy of Republican ideology and it will be the death of us. They cut out aid to states that would directly save jobs, health care to the poor, and aid to education. What the hell were they thinking? This is our future and they want to give people a tax cut so they can buy Ipods and other imported goods? Actually they also included the $70B cost of eliminating the alternate minimum tax which is really a $70B cut on stimulus because Congress would have approved this in another bill. I think most people have yet to understand that we are at the edge of a great depression and they are not ready to really do this right.
When I listen to the pundits and other various fools, what I hear is that bipartisanship is good and so is compromise. So maybe this bill is just right. No, it isn’t if one side is patently wrong and that has been demonstrated over the last eight (40?) years. Incorporating failed ideas into your plan for the sake of compromise is shirking your responsibility to the American people. We are standing at the edge of the precipice and so we should sorta-kinda not lean too far out? We should be withdrawing from the edge with all available speed. We progressives have been led by people who are too timid and are afraid to lead. And their fear will be used against us by the Republicans. It has been the Achilles’ heel of the Democrats for the last eight years and it will be their downfall if they don’t grow a spine and draw a line in the sand.
This bill is a compromise to nowhere and things will get worse. It will only muddy the argument of what is the right policy. Sure it will save some jobs and do some good, but in the end it is not big enough or bold enough to move our economy in the right direction and it will continue its decline. If I were in charge, I would have crafted the bill that I thought would be best structured to save our economy (loose the majority of the tax cuts and increase infrastructure spending) and then I would have jammed it down their throats. If we are stymied in the Senate by the filibuster so be it. The right way or no way, but not the wrong way. There is just too much in the balance to not go full bore. It is time to call the Republican’s bluff. Let them be held responsible for the destruction of the country. The longer you wait to finally draw the line in the sand, the harder it is going to be and the worse our situation will be. By the way Harry Reid is no leader. It is obvious that he tried to steamroll the House Democrats. I hope the Democrats in the House vote it down.
Stay tuned because this bill was too small and timid, and within six months there will be a new stimulus package because the first one wasn’t enough. The costs will be greater because we didn’t do it right the first time and it will take a bigger jolt. Trouble is, because the Democrats lacked the courage to challenge the Republicans this time, they will be emboldened to throw up more road blocks. Baby steps to nowhere are a journey to oblivion.