Krugman "favorably surprised by new Obama jobs plan...significantly bolder and better than expected"

[jefferson_dem]

Setting Their Hair on Fire
By Paul Krugman

First things first: I was favorably surprised by the new Obama jobs plan, which is significantly bolder and better than I expected. It’s not nearly as bold as the plan I’d want in an ideal world. But if it actually became law, it would probably make a significant dent in unemployment.

<SNIP>

O.K., about the Obama plan: It calls for about $200 billion in new spending — much of it on things we need in any case, like school repair, transportation networks, and avoiding teacher layoffs — and $240 billion in tax cuts. That may sound like a lot, but it actually isn’t. The lingering effects of the housing bust and the overhang of household debt from the bubble years are creating a roughly $1 trillion per year hole in the U.S. economy, and this plan — which wouldn’t deliver all its benefits in the first year — would fill only part of that hole. And it’s unclear, in particular, how effective the tax cuts would be at boosting spending.

Still, the plan would be a lot better than nothing, and some of its measures, which are specifically aimed at providing incentives for hiring, might produce relatively a large employment bang for the buck. As I said, it’s much bolder and better than I expected. President Obama’s hair may not be on fire, but it’s definitely smoking; clearly and gratifyingly, he does grasp how desperate the jobs situation is.

But his plan isn’t likely to become law, thanks to Republican opposition. And it’s worth noting just how much that opposition has hardened over time, even as the plight of the unemployed has worsened.

<SNIP>

The good news in all this is that by going bigger and bolder than expected, Mr. Obama may finally have set the stage for a political debate about job creation. For, in the end, nothing will be done until the American people demand action.

<SNIP>

http://www.nytimes.com/2011/09/09/opinion/setting-their-hair-on-fire.html?_r=1&ref=opinion&gwh=4F0AA38F25B49CFB687AED23A4349A14

[greenman3610]

1. "..nothing will be done until the American people demand action. "

true. so what do we do?

[Sirveri]

2. He'd do better if he hiked the top marginal tax rate and made some money rain down.

But that would NEVER clear the house. So pipe dream.

[jefferson_dem]

3. The top marginal rate is due to go up when the Bush tax cuts expire next year.

Regardless of what the House wants...

[Sirveri]

7. true... unless they take hostages again and get an extension.

Want to take bets on that one? I'll happily bet that they will, 20:1.

on edit: Also when I said hike, I mean HIKE, like 30% minimum, same with capital gains. I want a new tier for millionaires with a 65% rate.

[vi5]

9. It's so adorable...

..that there are people who still believe that those cuts are going to expire. Crazy, naive dreamers that they are.

The House will pass an extension because they have enough votes.
The Senate will then pass it because they'll have enough conservadems and not so conservadems who are still up for re-election.
And Obama will sign it because he won't want to be accussed in an election year of raising taxes.

And then we'll have to hear all the cries of "Nobody could have predicted that it would turn out this way.....what could anybody have done?!?!?!"

[MannyGoldstein]

4. Less than a quarter of what's needed

And likely paid for by additional cuts to the elderly and poor.

[scheming daemons]

5. irrelevant, since the GOP House won't pass it anyway....

[vi5]

6. Hmmm...so he CAN put forward plans?

Interesting, because how many times over the past 3 years when those of us who complained that the president wasn't leading, have we been told "The president doesn't introduce legislation...the president can't pass legislation....the president can't introduce legislation...the president can't pass legislation." only to have many of us go "Well, yes but he can put forward a bold and clear plan indicating what way he wants things to go and what things he would like to see and this can set the tone and draw clear lines.", only for us to be told "Oh you're so naive you don't understand how government works."

So this is good to know. He can get up in front of the country, he can lay out plans, he can state clearly what he does and does not want, and he can draw lines in the sand. Good to know moving forward.

[scheming daemons]

8. So now that he did what you advocated for, will you then advocate for HIM?

[quakerboy]

10. Conflation

Doing something does not equal doing what I advocated.

I am not who you were responding to, but I find myself in agreement with his post.

All this does is prove that the president has the opportunity and ability to propose legislation, and present it well. But I do not feel that he has done so in the service of Democratic values very often. 9 times in ten, instead, silence has been forth coming, until such time as republicans had time to twist and frame everything. And then the well presented arguments have been in favor of bills that are politically expedient rather than ones that are morally right or even merely vital to the long term stability of our nation