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Obamanomics

10 Jun 2008 11:34 am

You can tell it's general election time because Barack Obama's shifting his message back toward the center with yesterday's economic policy speech, with Austan Goolsbee re-emerging from the doghouse to take part in conference calls, and with Jason Furman -- a more veteran political operator than Goolsbee but someone with substantively similar views -- coming on board as a paid staffer. From the text of the speech, a shift away from the "I hate NAFTA more than you" rhetoric of the Ohio primary to something more like the center-left consensus view:

And because we know that we can’t or shouldn’t put up walls around our economy, a long-term agenda will also find a way to make trade work for American workers. We do the cause of free-trade – a cause I believe in – no good when we pass trade agreements that hand out favors to special interests and do little to help workers who have to watch their factories close down. There is nothing protectionist about demanding that trade spreads the benefits of globalization as broadly as possible.

This is all essentially fine by me because I'm a trust-fund scumbag the "center" wing of Democratic Party economic thought has shifted substantially left over the past few years. You can see that as many members of Clinton's economic team have grown more populist, in Bill Galston deciding that the era of big government is back, in any given Paul Krugman column, etc.

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Comments (14)

Furman's idiotic pro-Walmart article still pisses me off.

If you aren't pro-unionizing, you aren't welcome in any real progressive coalition.

I do note that he's listed a number of actually center-left economists among his valued advisers, so I'm relatively hopeful. But ultimately, this is what we were going to get with either Clinton or Obama - slightly empathetic neoliberalism, not an actual change in approach.

This is all essentially fine by me because I'm a trust-fund scumbag the "center" wing of Democratic Party economic thought has shifted substantially left over the past few years.

If Brookings is the "center" wing of the Democratic party on economics, then what is the "right" wing?

There's very, very little room to Furman's right among Democrats on economic issues. This is the right wing of the party.

Ooh, here's two:

Making her VP will mean a Republican Governor in Kansas and remove a good person to run for Senate there in 2 years.

This is what is most worrisome about Obama. Why does he rely on a bunch of Uncle Miltie lackeys? Where are some Democrats, not people who just call themselves Democrats to advance their careers?

You say this a day after he proposed an idiotic stimulus package that will drive up the debt, forcing us to inflate even more.

If Brookings is the "center" wing of the Democratic party on economics, then what is the "right" wing?

Right, right. The centrists at Brookings form the right wing of the Democratic Party on economic issues.

This is classic winners-compensate-the-losers stuff. I love it.

Business got its free trade, and the working man got lower prices and more economic insecurity. Under competent Democratic leadership I expect them to extract a hell of a lot more than that from our economic overlords. That' what Obama is saying. We'll give them the free trade, but we're getting a safety net out of the deal.

And if Obama is really good at this, our plutocratic masters will wish they never asked for free trade in the first place.

Bring Samantha Powers back from exile!

Bring Samantha Powers back from exile!

Yeah, and didn't Obama say something like his solution to the social security "problem" was to raise taxes on the rich?

I say, bad diagnosis, probably bad cure. We're not at all sure there is a problem, and if there is, there's a good case to be made that taxing the rich isn't the best solution. But most important, and what saved social security in 2005 was the notion that there's basically no problem.

Just read what Dean Baker says about "free" trade as it has been pursued, unnecessarily, as a form of class warfare along with his alternatives proposals for trade and then you can be free trader and a center-leftist while not having to endure tiresome, pseudo-intellectual proclamations about the desirability of trade from those who want so much to be liked by economists.

Just read what Dean Baker says about "free" trade as it has been pursued, unnecessarily, as a form of class warfare along with his alternatives proposals for trade and then you can be free trader and a center-leftist while not having to endure tiresome, pseudo-intellectual proclamations about the desirability of trade from those who want so much to be liked by economists.

"...deciding that the era of big government is back, in any given Paul Krugman column, etc."

When did that era end? Not in the last 8 years. Increases in spending, deficits, new programs, entitlements, pork, etc., exploded during the BushCo years.

Following on David above, per Steve Clemons Furman buys into the "entitlements need fixing" right-wing meme. If Obama falls into that, he'll lead himself and the Dems into disaster.


Comments closed June 24, 2008.

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