Wednesday, July 15, 2009
Obama and Economics
While I am watching the government spending and deficits with interest - as I always have - I think it comes down to two questions:
One, with all we've learned over the past eight, and the past thirty, years: Do you really think President Obama and his economic team are just that stupid? Are they really that naive or clueless? Do people like Peter Orzag and Paul Volecker simply know nothing about economics? Could all their discussion and all their actions just be flat-out wrong?
Two, are you hoping that what the President and his team are doing doesn't work? Not do you fear it won't or think it might not or suspect that it wouldn't or know that it can't. But, do you hope it fails? Knowing that the action will be taken for the next two and four years - and knowing that voters will judge it then - do you hope it doesn't work? Is there something in your heart and mind that hopes two and four years from now the economy is in worse shape?
For my part, I am cautiously optimistic. I hope what the Obama Administration is doing works, and I will vote two and four years from now based on my conclusions about the state of the nation at that time.