Last week, the Center for American Progress, a think tank with close ties to the Obama administration, published an acerbic essay about the difference between true deficit hawks and showy ‘deficit peacocks.’ You can identify deficit peacocks, readers were told, by the way they pretend that our budget problems can be solved with gimmicks like a temporary freeze in nondefense discretionary spending. One week later, in the State of the Union address, President Obama proposed a temporary freeze in nondefense discretionary spending. Wait, it gets worse. To justify the freeze, Mr. Obama used language that was almost identical to widely ridiculed remarks early last year by John Boehner, the House minority leader. Boehner then: ‘American families are tightening their belt, but they don’t see government tightening its belt.’ Obama now: ‘Families across the country are tightening their belts and making tough decisions. The federal government should do the same.’ What’s going on here? The answer, presumably, is that Mr. Obama’s advisers believed he could score some political points by doing the deficit-peacock strut. I think they were wrong, that he did himself more harm than good. Either way, however, the fact that anyone thought such a dumb […]
Saturday, January 30th, 2010
March of the Peacocks
Author: PAUL KRUGMAN
Source: The New York Times
Publication Date: 28-Jan-10
Link: March of the Peacocks
Source: The New York Times
Publication Date: 28-Jan-10
Link: March of the Peacocks
Stephan: I agree with every word of this, and it is going to get worse. We seem to have lost the capacity for proactive governance.