The Long Term: How the RIGHT FEAR it, and HOW some on the LEFT just don't plain GET IT! [View All]

[FrenchieCat]

The Political Implications Of The Stimulus
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The left claims that Obama's bipartisanship has failed. They argue his "centrist" compromises, as well as the failure to offer a bigger initial package, will fatally weaken the stimulus effort. Republicans see "glimmers of rebirth" through their opposition to the Democrats' plans. But both groups are missing the larger context.

Progressives are in the process of winning a transformative political victory that may be the harbinger of a new era of activist government. For conservatives, their unity might be cause for celebration; but from a policy standpoint they have suffered a decisive defeat.

The most striking element of the revolution that is taking place in Washington is how quickly it has occurred. Four months ago, the Democratic standard bearer made the centerpiece of his economic message a decidedly, non-liberal, middle class tax cut. No one was seriously talking about a massive spending package to revive the economy and had Obama made such a proposal then we would likely be discussing the finer points of the McCain Administration.

The shift is a result, in part, of the worsening economic recession; but the specific solution being favored by Congress is more a function of the trust that Americans have in President Obama (as well as the advantage of a Democratic-controlled Congress).

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At the same time, Obama has changed the national conservation about taxes, away from the usual conservative mantra of broad income tax cuts, which disproportionately helped the wealthiest Americans, and toward cuts narrowly tailored toward the middle class. Not only is this arguably better from a policy perspective, but it could lead to a more progressive and egalitarian approach to reducing taxes.

While conservatives are putting on a brave face, steadfast in their opposition, they seem oblivious to the fact that the debate in Washington is no longer between big government and smaller government; it's between big government and bigger government. By supporting a slightly smaller stimulus package - and empowering centrist Republicans by giving them the credit for shrinking its size -- Obama looks conciliatory, while actually getting about 80-90% of what he wanted in new spending and tax reductions. Republicans, by holding out for only tax cuts and failing to offer any compromise that included government spending have painted themselves as political losers - a situation that could get worse for them.

MORE.... http://tpmcafe.talkingpointsmemo.com/2009/02/12/the_political_implication_of_the_stimulus/