Obama and the debt

The other day, I mentioned that in addition to structural constraints from Congress, I felt that President Obama was a bit more hawkish with regard to the debt that many on the left might think (or hope). Krugman does the research, and lo and behold (from Obama’s first inaugural address):

“Our workers are no less productive than when this crisis began. Our minds are no less inventive, our goods and services no less needed than they were last week or last month or last year. Our capacity remains undiminished. But our time of standing pat, of protecting narrow interests and putting off unpleasant decisions — that time has surely passed.”

From the very beginning of Obama’s presidency, the temptation to make “unpleasant” decisions in order to be taken seriously as a post-partisan President has been an influence on Obama’s decision-making. Unfortunately, the fiscal crisis was absolutely the wrong time to be making these unpleasant decisions.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s