Monday, August 15, 2011

News item of the day

News ledes that make you wonder upon which planet the New York Times and/or the Obama administration are currently residing.

As the economy worsens, President Obama and his senior aides are considering whether to adopt a more combative approach on economic issues, seeking to highlight substantive differences with Republicans in Congress and on the campaign trail rather than continuing to pursue elusive compromises, advisers to the president say.

Elusive compromises like Porkulus, Cash for Clunkers, Cash for Caulkers, car company takeovers and ObamaCare all which enjoyed zero bi-partisan support and which did nothing for, and can be argued, did further harm to the economy. Those elusive compormises?

Mr. Obama plans to spend time this weekend considering his options, advisers said. The White House expects to unveil new job-creation proposals in early September

Can't wait to see how the same old Keynesian gimmickry is going to be re-packaged and re-spun in just a few weeks.

So far, most signs point to a continuation of the nonconfrontational approach — better to do something than nothing — that has defined this administration. Mr. Obama and his aides are skeptical that voters will reward bold proposals if those ideas do not pass Congress. It is their judgment that moderate voters want tangible results rather than speeches.

“If you’re talking about a stunt, I don’t think a stunt is what the American people are looking for,” the White House press secretary, Jay Carney, told reporters on Wednesday. “They’re looking for leadership, and they’re looking for a focus on economic growth and job creation.”

Actually, give "nothing" a try. Seriously. Give it a whack because nothing they have tried so far has done any good. And stunts? Mr. Carney, kind sir, stunts and demand-side gimmicks are all this administration has offered up.

And as for our wondering about re-packaging failed Keynesian policies, it doesn't look like Team O is going to even worry about any slick re-branding because it's mainstream economic theory, dontcha know?

A wide range of economists say the administration should call for a new round of stimulus spending, as prescribed by mainstream economic theory, to create jobs and promote growth. It is clear that the House would never pass such a plan.

The campaign meme of the Obama adminstration which will be dutifully parroted by their water-carriers in the media has been set and you won't be surprised to know the crappy state of the economy has nothing to do with them but rather the fellow that preceded Obama and those damn pesky Republicans that keep getting in the way of allowing the administration from further ruining the economy.

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