Obama has, sadly, bought the Republican argument for why the economy is in trouble. This week, he went to a community college in Northern Virginia to rally students there to the cause of the deficit. Here’s my expurgated version:H/t to Digby.For a long time, Washington acted like deficits didn't matter. … And as the saying goes, there is no such thing as a free lunch. … Now, if we don't close this deficit, now that the economy has begun to grow again, if we keep on spending more than we take in, it's going to cause serious damage to our economy.Obama has tried to carve a liberal niche within this retrograde political framework by charging that the Republican plan to cut the deficit would get rid of Medicare and would keep the Bush-era tax cuts for the wealthy. That’s all well and good, but Obama is still playing on Republican turf. And it might not work. The last Democratic presidential candidate who based his campaign on deficits was Walter Mondale in 1984. MORE...
Saturday, April 23, 2011
"Trouble Ahead-Obama has chosen the wrong economic message."
John Judis (The New Republic):